The ministry planned to sell RON500 million of paper at Thursday’s auction. Banks offered RON906 million, but the ministry wasn’t satisfied with the yield level.
The ministry sold debt worth RON3.54 billion in May, down from RON3.8 billion initially targeted. A month earlier, the ministry raised RON4.9 billion in six auctions.
So far in 2012, Romania sold around RON34.5 billion in leu-denominated state notes and $2.25 billion in 10-year US dollar-denominated bonds. (EUR1=RON4.4662)