BUCHAREST: Romania rejected all bids at a tender to sell April 2019 treasury bonds on Monday, the fourth failed debt auction this month, central bank data showed.
Debt managers, who had planned to sell 300 million lei worth of the paper, last auctioned it off in September 2016 at an average yield of 1.39 percent. They sold June 2019 bonds last month at an average yield of 1.46 percent.
Low market liquidity and a subsequent rise in yields have driven the finance ministry to reject all bids at tenders this month so far. On Monday, bids totalled 468 million lei ($120.63 million). The ministry has a comfortable funding buffer.
So far this year, Romania has sold 37.3 billion lei and 340 million euros of domestic bills and bonds. It has tapped foreign markets for 2.75 billion euros of 2027 and 2035 Eurobonds.
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