The ministry had planned to raise RON700 million at today’s tender. Banks offered RON1.1 billion, but the ministry wasn’t satisfied with the yield level.
At a similar auction May 14, the ministry sold RON335 million in two-year paper with a yield of 5.53%.
The ministry plans to sell RON3.5 billion in debt this month, similar to RON3.54 billion sold in May.
So far in 2012, Romania sold around RON34.9 billion in leu-denominated state notes and $2.25 billion in 10-year US dollar-denominated bonds. (EUR1=RON4.4616)