Romania’s Treasury scheduled bill and bond issues with a combined target value of RON 3.8 billion (EUR 817 million) in competitive auctions during December, local Economica.net reported.

The government thus expects to draw fewer funds from the local market, after it sold RON 4.42 billion worth of papers in November (versus RON 4.35 billion target) and RON 5.2 billion in October (versus RON 4.2 billion target).

The Treasury also expects to sell RON 480 million (EUR 103 mln) in bills and bonds under marginal, non-competitive issues (supplementary issues where the yield is set as the average yield in the competitive auction) - roughly in line with the sums tapped from the market under such operations in October and November.

In the latest issues, the average yields have continued to slightly decline: the Treasury sold RON 494 million of bonds with a residual maturity of 89 months at an average yield of 4.67% on December 3, compared to 4.69% on November 14 when the same benchmark bond was opened. A 10-year bond (123-month residual maturity) was issued on November 28 at an average yield of 5.01%, down from 5.15% on October 17.

editor@romania-insider.com