Romania Sells RON206M 3-Year Bonds At 7.31% Average Yield

05.05.2011 By Florentina Dragu

Romania’s Finance Ministry on Thursday sold 206 million lei (EUR50.2 million) in three-year bonds, below the planned amount, at an average yield of 7.31%, higher than at the previous auction, central bank data showed.

Banks offered RON774 million, but the ministry rejected all yields above 7.32% a year.

At the latest similar auction April 4, the ministry sold a planned RON500 million in three-year paper at 7.29% average yield.

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 roughly RON22 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=RON4.1065)