December 28 (SeeNews) - Romania's finance ministry said on Thursday it plans to auction 4.4 billion lei ($1.12 billion/945 million euro) worth of government securities and to sell an additional 540 million lei in non-competitive offers in January.
The finance ministry plans eight auctions of government securities with maturity of 1.1 to 9.6 years and one auction of one-year T-bills in January, it said in a debt issuance calendar.
Starting October, several tenders failed due to low market liquidity.
In December, the ministry planned to raise 2.81 billion lei worth of government securities, but it has only sold a total of 1.33 billion lei.
At the end of October, Romania's finance ministry said it has a comfortable funding buffer and a plan to meet the country's financing needs for the rest of the year, despite the failed auctions.
Year-to-date, the ministry has sold some 41 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.
Earlier in December, the ministry said that it plans to raise to 27 billion euro ($31.9 billion) from 20 billion euro the borrowing ceiling under its Medium Term Notes programme for international markets.
For 2018 finance ministry said it is considering issuing Eurobonds worth about 4 billion euro.
(1 euro= 4.6507 lei)