Romania Sells RON500M 2-Year Bonds At 7.2% Average Yield

11.03.2011 By Florentina Dragu

Romania’s Finance Ministry on Monday sold a planned 500 million lei (EUR114.7 million) in two-year bonds, at an average yield of 7.23% a year, slightly lower than at the previous auction.

Banks offered RON1.85 billion, central bank data showed.

At the latest similar auction October 17, the ministry sold RON800 million in two-year paper at a 7.4% average yield.

The ministry plans to sell debt worth RON4.5 billion in November, more than double from RON2.13 billion sold a month earlier.

So far this year, Romania sold around RON44.2 billion (EUR10 billion) in leu-denominated state notes. Additionally, two foreign currency bond auctions have brought the ministry EUR1.4 billion, while an international debt sale early June raised EUR1.5 billion.