The Romanian Public Finance Ministry (MFP) has sold benchmark bonds worth EUR 75.8 million at an average performance rating of 7.35 percent per year with the deadline in 49 months, according to the Romanian Central Bank (BNR).

The initial value announced at the auction was EUR 95.7 million. The banks filed purchase demands cumulating EUR 130 million. The Ministry repelled the banks’ offers for the benchmark bonds with the due date after three years motivating that the level of the performance rate was unacceptable, according to BNR.

Romania wants to attract EUR 933 million in March by issuing public securities to cover the budgetary deficit and refinance the public debt, according to the ministry. It will organize an auction this month for the treasury certificates with discount, representing EUR 240 million, with a one-year deadline.

The Ministry attracted around EUR 981 million in 2010. In 2009, The Ministry has raised more than EUR 1.5 billion, five times more than in 2008.

Teodora Vaduva, teodora.vaduva@romania-insider.com