Romanias finance ministry rejects all bids for 12-month T-Bills issue.

By bne IntelliNews August 21, 2012
Romania's finance ministry has rejected all bids placed by commercial banks at its latest one-year T-Bills auction, Agerpres news agency reported on Monday, August 20. The ministry offered RON 500mn (EUR 111mn) worth of T-Bills and the banks placed bids totalling RON 864.2mn. However, the ministry considered the offered yields unacceptable and therefore allotted no T-Bills. We remind that on Aug 6 the finance ministry offered and sold RON 700mn of 12-month T-Bills at an average yield of 5.66%. The ministry plans to sell some RON 2.5bn in debt paper in August, up from RON 1.5bn sold in the previous month.
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