The ministry had an indicative target of RON300 million for today’s sale. Banks offered RON973.9 million, central bank data showed. The issue will be reopened tomorrow in a bid to raise RON45 million at a supplementary non-competitive sale.
At the most recent reopening of the bond in June, the ministry sold RON500 million of 10-year paper.
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 roughly RON23.7 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=RON4.4488)