The ministry planned to sell RON400 million worth of paper at today’s auction. Banks offered a total of RON791 million, but the ministry wasn’t satisfied with the yield level.
At the latest similar auction August 25, the ministry sold roughly RON227 million in 10-year paper at 7.59% annual average yield.
The ministry wants to sell debt worth RON4.7 billion in September, up from roughly RON2.6 billion sold a month earlier.
So far this year, Romania sold around RON41.44 billion (EUR9.6 billion) in leu-denominated state notes. Additionally, two foreign currency bond auctions have brought the ministry EUR1.4 billion, while an international debt sale early June raised EUR1.5 billion. (EUR1=RON4.3081).