Romania Sells RON1.48B 2-Year Bonds At 6.87% Average Yield
Romania’s Finance Ministry on Thursday sold two-year bonds worth 1.48 billion lei (EUR342 million), double the planned amount, in the first debt sale of the year, at an yield slightly lower than at the previous auction.
The ministry planned to sell bonds worth RON700 million at Thursday’s auction. Banks offered RON2.5 billion, central bank data showed.
The average annual yield was 6.87%, down from 7.15% on December 8, when the ministry sold RON700 million in two-year paper.
The ministry plans to sell debt worth RON4.5 billion in January, similar to the value of debt sales in the previous month.
In 2011, Romania sold around RON51.5 billion (EUR12 billion) in leu-denominated state notes, 25% higher compared with RON41 billion in the previous year. Additionally, two foreign currency bond auctions have brought the ministry EUR1.4 billion, while an international debt sale early June raised EUR1.5 billion. (EUR1=RON4.3398)
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