The ministry had set an indicative target of RON700 million for today’s auction. Book orders amounted to RON2.8 billion, but the maximum accepted yield was 3.94%, central bank data showed.
At the latest similar auction December 19, the ministry sold RON863.3 million of three-year paper at 3.97% average yield.
The Finance Ministry plans to raise EUR200 million in a 5-year Eurobond at a local auction scheduled for January 23. Apart from the Eurobond, the ministry plans to sell leu-denominated treasuries worth 4.03 billion lei (EUR900 million) in January in 12 auctions.
Romania sold RON48.54 billion in leu-denominated notes in 2013, down from RON58.2 billion in the previous year. It also raised EUR1.57 billion at four euro-denominated auctions on the local market.
Moreover, the country tapped international debt markets for $1.5 billion at a US dollar-bond sale in February and raised another EUR2 billion at two Eurobond sales in September and October, respectively. (EUR1=RON4.4947)