Romanian minfin rejects all bids at 2038 T-bond auction

The issue was undersubscribed as investors placed bids for 222.7 million lei of government securities, the data indicated.

The finance ministry last tendered bonds of the same issue in March, achieving an average yield of 6.60%. Demand for the government securities, which have an annual coupon of 7.9%, totalled 393.2 million lei.

The issue will be reopened on Wednesday, when the finance ministry hopes to raise 45 million lei in a non-competitive tender.

Details on the issue follow:

Romania has sold about 33.495 billion lei worth of government securities year-to-date.

(1 euro = 4.9678 lei)