Romania's Ministry of Public Finance sold EUR 337 mln at two bond auctions

Two bond auctions brought Romania's Ministry of Public Finance EUR337 million (RON1.5 billion), 50% more than the debt planned to be sold.

The ministry raised about EUR225 million (RON1 billion), double than the indicative target, through a five-year bond sale, at a lower average yield compared to 2012 – 4.37% a year, down from 4.56% last year. Besides that, the Ministry of Finance also raised EUR112 million (RON500 million), as planned, in ten-years bonds at an average yield of 5.29% a year, marginally higher from 5.25% a year.

According to the ministry's plan, there are going to be sold state treasuries worth approximately EUR1 billion this month. Additionally, the ministry aims to raise other EUR150 million at a three-year Eurobond sale on October, 10.

Romania has sold around EUR3 billion in leu-denominated notes in 2013, up to this point and EUR1.41 billion in euro-denominated bonds on the local market, while another EUR1.5 billion and $1.5 billion have been raised through an Eurobond sale in September, respectively, a US dollar-bond in February.