Romania rejects all bids at Nov. 2021 bond tender

BUCHAREST: Romanian debt managers rejected all bids at a tender to sell a new benchmark bond issue maturing in Nov. 2021 on Monday, central bank data showed, the second failed auction since the US presidential election earlier this month.

The finance ministry had planned to sell 500 million lei ($118.01 million) of the paper. In October, it sold bonds maturing in March 2021 at an average accepted yield of 2.14 percent.

Monday's issue attracted total bids worth 554 million lei.

The US election's unexpected win and expectations for a rise in US interest rates have curbed demand for emerging market assets.

So far this year, Romania has sold 42.9 billion lei and 775 million euros of domestic bonds.