Romania To Issue 3.0 Bln Lei (812 Mln Euro) of Debt in Nov - Fin Min

The ministry will auction 1.4 billion lei worth of benchmark T-notes with maturity of three and five years, it said in a statement. An auction for five-year T-notes worth 700 million lei is scheduled for November 10, and an auction for three-year securities worth 700 million lei will be held on November 24.

The ministry will also issue 1.6 billion lei worth of six-month and 12-month discount T-bills this month. The auction of 800 million lei in six-month T-bills is scheduled for November 12, and that of 800 million lei in 12-month T-bills for November 26.

The ministry said earlier it planned to issue 11 billion lei worth of government securities in 2008 and some 500 million euro ($636 million) in 10-year eurobonds to refinance its 600 million euro Eurobond issue that matured in June.

The central bank has sold government securities worth some 8.7 billion lei in 2007 and another 8.4 billion lei so far this year.

Romania liberalised its capital market in 2006, giving foreign nationals free access to buy its government securities. The country joined the European Union in January last year.

(1 euro = 3.6954 Romanian lei)