The ministry planned to sell debt worth RON800 million at today’s tender. Banks offered RON1.6 billion, but the ministry didn’t accept yields higher than 6.1%, central bank data showed.
At the latest similar auction September 17, the ministry sold RON978 million of one-year paper at an average yield of 5.95% a year.
The ministry plans to sell state paper worth RON3.55 billion in November, slightly up from RON3.13 billion in the previous month.
So far in 2012, Romania sold on the local market RON46.6 billion in leu-denominated state notes and EUR421.5 million via a tap of an existing foreign currency bond due 2015.
Additionally, Romania sold $2.25 billion in US dollar-denominated bonds at two auctions in the US and another EUR750 million via an international tap of its 6.5% June 2018-dated eurobond.
Last week, the ministry raised EUR1.5 billion at a seven-year eurobond sale in international markets. (EUR1=RON4.5209)