Romania Sells RON1B 1-Year T-Bills At 6.89% Average Yield

05.09.2011 By Florentina Dragu

Romania’s Finance Ministry on Monday sold a planned 1 billion lei (EUR243 million) in one-year treasury bills, at an average yield of 6.89% a year, slightly higher than at the previous auction.

Banks offered RON2 billion, but the ministry rejected all yields above 6.91% a year.

At the previous similar auction May 2, the ministry sold RON1.64 billion in one-year paper at an average annual yield of 6.85%.

The ministry plans to sell debt worth RON4.8 billion in May, down from RON6.1 billion sold a month earlier.

So far this year, Romania sold RON24.2 billion in leu-denominated state notes. Additionally, a three-year foreign currency bond auction held May 4 has brought the ministry EUR939.2 million. (EUR1=RON4.1039)