Romania Rejects All Bids For RON 400M 5Yr Bonds

In its most recent 5-year bonds auction July 3, the ministry sold RON45.6 million worth of bonds, at an average yield of 9.64% on the year.

The Finance Ministry is planning to sell benchmark bonds and treasury bills worth RON1.6 billion in August, compared with nearly RON572 million sold in July.

The money will be used to finance the country’s public debt, which totaled EUR43.122 billion at the end of May, up 12.1% compared with the end of 2007.

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The ministry has scheduled two treasury bills auctions on August 13 and August 27 worth RON400 million each, and two benchmark bonds auctions on August 7 and August 21 worth RON400 million each, respectively.

So far this year, it has sold nearly RON5 billion of bonds and T-Bills in 28 auctions.

In 2007, the ministry sold about RON9 billion worth of bonds and T-bills, compared with a planned RON12 billion. It said it may borrow up to RON11 billion from the local market.