Romania’s Treasury managed to raise RON 2.1 bln (over EUR 400 mln) - five times the target size of the issue - with a 115-month bond at a time when the liquidity of the money market is problematic.

In fact, the banks placed offers for almost twice as much as the final size of the issue, namely RON 3.9 bln, Economica.net reported.

The bond was issued at an average yield of 8.65% - indeed slightly more than the 8.27% yield in June when the same benchmark bond was opened.

At that time, however, the Treasury raised only half of the RON 400 mln envisaged. 

(Photo: Iryna Drozd/ Dreamstime)

andrei@romania-insider.com