Romania Sells RON300M In 5-Year Bonds, Yield Rises To 2.78%

06.15.2015 By Bogdan Neagu

Romania’s Finance Ministry raised a planned 300 million (EUR67 million) at a five-year bond reopening Monday, but the yields were higher than at previous auction, amid government paper-selling pressures on the local market.

The average yield at the Monday tender was 2.78%, compared with 2.61% at the previous reopening of the June-2019 bond, when the ministry sold slightly more than half of the planned amount.

Book orders for the five-year bond amounted to RON714.2 million, and the maximum accepted yield was 2.79%, central bank data showed.

The issue will be reopened tomorrow in a bid to raise RON45 million at a supplementary non-competitive sale.

The finance ministry had planned to raise RON2.8 billion at treasury auctions in June, up from RON2.1 billion in the previous month, but volatility in the bond markets made it reject offers at an auction last Monday and scrap another tender planned for the this week.

So far in 2015, the ministry raised around RON17.2 billion at bond auctions on local market.