BUCHAREST: Romania sold 1.5 billion lei ($429 million) in 244-day treasury bills on Monday, more than double the planned amount with the average accepted yield at 5.98 percent, down 13 basis points from a previous tender on Sept. 3, central bank data showed.
Analysts were expecting lower yields and good demand after the resolution of a months long political crisis last month and after debt managers sold 750 million euros worth of June 2018 Eurobonds earlier this month, bolstering their funding buffer.
A move by the central bank to offer unlimited liquidity to banks at a repo auction earlier on Monday also helped the tender, analysts said. Throughout August, the bank capped the amount of cash it gave banks, which supported the leu currency but pressured money markets rates and yields.
The finance ministry planned to sell 700 million lei on Monday. It rejected all bids at three tenders last month. So far this year, it has sold just under 42 billion lei in bonds and bills on the domestic market.
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