Banks offered RON1.02 billion, but the ministry rejected all yields above 3.91%.
In the previous reopening of the bond on April 22 last year, the ministry sold RON300 million in four-year paper at an average yield of 4.9%.
The ministry plans to sell leu-denominated treasuries worth RON2.68 billion in March, up from around RON2 billion in the previous month. Also this month, the ministry hopes to raise at least EUR200 million at a five-year Eurobond on March 20.
So far in 2014, Romania sold RON7.14 billion in leu-denominated notes and EUR478.7 million at two euro-denominated auctions on the local market. The ministry also tapped international markets for $2 billion at a two-part U.S. dollar bond issue in January. (EUR1=RON4.5169)