The ministry sold only the targeted amount at today’s auction, although demand was high, with book orders amounting to RON2.9 billion.
The average yield for the bond due in January 2018 was 2.57%, very close to the one the treasury got mid-October when it reopened another three-year bond issue.
The issue will be reopened tomorrow in a bid to raise RON75 million at a supplementary non-competitive sale.
Including today’s auction, the ministry sold state paper worth of RON4 billion in October, in line with its initial plans. Last week, Romania raised EUR1.5 billion from international markets in a 10-year Eurobond.
So far in 2014, the country sold RON33.6 billion in leu-denominated notes and EUR928.7 million at four 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, and raised EUR1.25 billion in another ten-year Eurobond sale in April.