Romania rejects all bids in 200 mln lei (43 mln euro) 2023 T-note auction

Demand in the auction stood at 190.2 million lei. The issue will be reopened on Tuesday when the finance ministry hopes to raise 30 million lei in a non-competitive tender.

At the previous auction of the same T-note issue held in July, the finance ministry sold a planned 700 million lei at a yield of 2.99%.

This is the first failed auction of government securities this month.

Details on the issue follow:

The ministry has rejected all bids in three auctions of government securities held in November. It had originally planned to raise 2.7 billion lei and an additional 330 million lei in non-competitive offers last month, but only managed to sell some 1.16 billion lei.

Romania's finance ministry plans to auction 2.5 billion lei worth of government securities and to sell an additional 315 million lei in non-competitive offers in December.

Year-to-date, the ministry has sold some 39 billion lei and 340 million euro worth of government bills and bonds and has tapped foreign markets for 2.75 billion euro of 2027 and 2035 Eurobonds.

The ministry has said it plans to sell some 48-50 billion lei worth of leu-denominated domestic debt this year.

(1 euro= 4.6332 lei)