Treasury Attracts RON500M In 5-Yr Bonds, At 7.34% Yield

05.19.2011 By Florentina Dragu

Romania’s Finance Ministry on Thursday sold a planned 500 million lei (EUR121.2 million) in five-year treasury bonds at an average yield of 7.34% a year.

Banks offered RON1.27 billion, but the ministry rejected any offers above 7.38% a year, central bank data showed.

At the previous similar auction April 14, the ministry sold RON289 million in five-year paper at an average annual yield of 7.38%.

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 RON25.8 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=RON4.1254)