The ministry planned to sell RON300 million worth of paper at today’s auction. Banks offered a total of RON1.02 billion, but the ministry rejected all yields above 7.25% a year.
At the latest similar auction September 22, the ministry sold RON98.4 million in 10-year paper at 7.65% annual average yield.
The ministry sold debt worth RON5.35 billion in December, up from RON3.9 billion sold a month earlier.
In 2011, Romania sold around RON51.5 billion (EUR12 billion) in leu-denominated state notes, 25% higher compared with RON41 billion in the previous year. Additionally, two foreign currency bond auctions have brought the ministry EUR1.4 billion, while an international debt sale early June raised EUR1.5 billion.
The ministry plans to borrow EUR1.3 billion from the international markets in 2012 to help finance the budget deficit. (EUR1=RON4.3011)