Banks offered RON2.3 billion, but the ministry wasn’t satisfied with the yield levels.
At the latest similar auction February 11, the ministry sold RON600 million of two-year paper at an average yield of 5.83% a year.
The ministry plans to sell state treasuries worth RON3 billion in March, below the RON4 billion raised a month earlier.
So far in 2013, Romania sold RON16.92 billion in leu-denominated notes and EUR502.5 million at a three-year euro-denominated auction on the local market. Additionally, the ministry tapped international markets for $1.5 billion at a US dollar-bond auction in February. (EUR1=RON4.3975)