Romania Sells EUR939M In 3-Year Bonds At 4.9% Average Yield

05.04.2011 ZF English

Romania’s Finance Ministry on Wednesday sold a more-than-planned EUR939 million in three-year bonds at an average yield of 4.89%, slightly higher than at the previous auction in November 2010, a ministry official told MEDIAFAX.

"The banks offered good prices, as we expected. We sold a larger-than-planned amount as the maximum accepted yield was of 4.9%, which is reasonable for a three-year issue in the current conditions on international markets," said Bogdan Dragoi, state secretary with the Finance Ministry.

The ministry planned to sell EUR600 million at Wednesday's auction, the first foreign-currency denominated paper sale on the domestic market in 2011.

Last year, the ministry sold EUR2.5 billion in two foreign currency auctions.

Romania sold EUR1.2 billion in one-year treasury bonds in July 2010, while a three-year sale in November raised EUR1.3 billion at an average yield of 4.8%.

So far this year, Romania sold around EUR5.4 billion in leu-denominated state notes.