Romania Sells RON289M 5-Year Bonds At 7.38% Average Yield

04.14.2011 By Florentina Dragu

Romania’s Finance Ministry on Thursday sold 289.14 million lei (EUR1=RON4.1021) in five-year treasury bonds, below the planned amount, while the average yield rose to 7.38% a year.

Romania's Finance Ministry on Thursday sold 289.14 million lei (EUR1=RON4.1021) in five-year treasury bonds, below the planned amount, while the average yield rose to 7.38% a year.

The ministry planned to sell RON500 million in paper at Monday's auction. Banks offered RON983 million, but the ministry rejected all yields above 7.4% a year.

At the previous similar auction March 17, the ministry sold RON317 million in five-year paper at an average annual yield of 7.35%.

The ministry plans to sell debt worth RON4.5 billion in April, up from RON3.63 billion sold a month earlier.

So far this year, Romania sold roughly RON20 billion in state notes.