Romania Sells RON500M 3-Year Bonds At 7.3% Average Yield

04.07.2011 By Florentina Dragu

Romania’s Finance Ministry on Thursday sold a planned 500 million lei (EUR1=RON4.1089) in three-year bonds, at an average yield of 7.29%, higher than at the previous auction, central bank data showed.

Romania's Finance Ministry on Thursday sold a planned 500 million lei (EUR1=RON4.1089) in three-year bonds, at an average yield of 7.29%, higher than at the previous auction, central bank data showed.

Banks offered RON1.02 billion, but the ministry rejected all yields above 7.32% a year.

At the latest successful similar auction February 3, the ministry sold RON775 million in three-year bonds at 7.11% average yield.

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 RON17.4 billion in state notes.