The ministry planned to sell RON300 million worth of paper at today’s auction. Banks offered a total of RON1.1 billion, but the ministry rejected all yields above 6.75% a year.
At the latest similar auction December 22, the ministry sold RON405 million in 10-year paper at 7.25% annual average yield.
The ministry plans to sell debt worth RON5 billion in March, down from RON8.3 billion sold a month earlier.
So far in 2012, Romania sold RON18.72 billion (EUR4.2 billion) in leu-denominated state notes. Additionally, the ministry sold $2.25 billion in 10-year US dollar-denominated bonds on the American market. (EUR1=RON4.3488)