Romania Rejects All Bids for 5-Yr T-Notes

BNR auctions government securities on behalf of the Finance Ministry.

In the previous auction of five-year Treasury notes, held on October 8, the BNR sold 862 million lei worth of government paper, below the target offer of 950 million.

The Finance Ministry has said it plans to issue 6.0 billion lei worth of government securities in November.

Romania has sold 51.795 billion lei in government debt paper so far this year. It sold government securities worth nearly 12 billion lei last year, up from 8.7 billion lei in 2007.

The country, which joined the European Union in 2007, liberalised its capital market in 2006, giving foreign nationals free access to its government securities.

(1 euro = 4.3027 Romanian lei)