Romania Rejects All Bids In 5-Yr Bonds Sale

Bank offers amounted to RON459 million, but the ministry was not satisfied with the yield level.

The latest successful five-year bonds sale was held June 17, when the ministry sold paper worth RON284 million at 6.97% average yield.

The ministry wants to sell debt worth RON4.6 billion in September, up from RON3 billion sold a month earlier.

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So far this year, Romania sold RON25.2 billion in state notes. In addition, a euro-denominated bond sale on July 28 brought the ministry EUR1.2 billion in a heavily oversubscribed auction.