Banks offered RON1.08 billion, central bank data showed. The issue will be reopened tomorrow in a bid to raise RON75 million at a supplementary non-competitive sale.
At the latest reopening of the bond in June, the ministry sold RON690 million of five-year paper at an average yield of 3.93%.
The ministry plans to sell state treasuries worth RON4.1 billion in July, up from RON3.95 billion raised a month earlier. The institution has to repay debt worth RON6.8 billion this month.
So far in 2014, the country sold RON22.71 billion in leu-denominated notes and EUR678.7 million at three 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 a ten-year Eurobond sale in April. (EUR1=RON4.4193)