Romania Sells RON1.1B In 6-Month T-Bills; Average Yield Falls To 6.29%

05.16.2011 ZF English

Romania’s Finance Ministry on Monday sold 1.12 billion lei (EUR272.8 million) in six-month treasury bills, at an average yield of 6.29% a year, lower than at the previous auction.

The ministry planned to sell RON800 million of paper at Monday's auction. Banks offered RON2.96 billion, but the ministry rejected all yields above 6.33% a year, central bank data showed.

At the previous similar auction March 14, the ministry sold RON1 billion in six-month paper at an average annual yield of 6.82%.

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 RON25.3 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=RON4.1054)