Romania sold over EUR 292 million in government bonds on Monday ( January 23 ), at an average yield of 5.87 percent a year, according to the country's Central Bank (BNR). The initial target of the bid was EUR 70 million, but banks oversubscribed by almost six times. The treasury certificates have a six-month deadline.

Romania's Finance Ministry hopes to attract a total of almost EUR 1 billion in January through government bonds, that should finance the budget deficit and refinance the public debt. Last year, Romania raised almost EUR 12 billion in state bonds, up from EUR 9.7 billion the year before.

Corina Saceanu, corina@romania-insider.com

(photo source: Photoxpress.com)