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Romania Sells RON436M 5-Year Bonds At 7% Average Yield

Romania’s Finance Ministry on Thursday sold 436 million lei (EUR100.3 million) in five years bonds, above the planned amount, at an average yield of 7% a year, lower than at the previous auction.

Florentina Dragu · 19 ianuarie 2012 · 1 min de citit

The ministry planned to sell paper worth RON300 million at Thursday’s auction. Banks offered RON1.41 billion, central bank data showed.

At the previous similar auction in October 2011, the ministry rejected all bids in a RON500 million sale, citing high yields. The latest successful five-year bid was held on August 4, when the ministry sold paper worth RON372 million at an average yield of 7.35% a year.

The ministry already exceeded its issuance plan for January, of RON4.5 billion. It sold over RON8.6 billion worth of paper in five out of six auctions, with the last one expected to raise another RON300 million.

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