Banks offered RON1.06 billion, but the ministry rejected all yields above 4.13% a year, central bank data showed.
On February 6, the ministry rejected all bids at a 10-year bond sale, citing high yields. However, the issue reopened last week had an outstanding maturity of seven years, compared with a little over three years for today’s bond.
The ministry plans to sell debt in local currency worth RON4.06 billion in February. Also this month, the institution hopes to raise at least EUR200 million at a five-year Eurobond sale on February 20.
So far in 2014, Romania sold RON5.66 billion in leu-denominated notes and EUR278.7 million at a euro-denominated auction on the local market. The ministry also tapped international markets for $2 billion at a two-part US dollar bond issue in January. (EUR1=RON4.4754)