Friday, March 4, 2011

Romania rejects all bids at 3-yr T-bond auction

(Reuters) - Romania rejected all bids at a tender to sell 3-year treasury bonds on Thursday, the first rejection since November of last year, central bank data showed.

Debt managers, who had planned to sell 600 million lei ($198.2 million), drew bids worth a total of 794 million lei.

Analysts had expected the ministry to sell fewer bonds than planned at an average yield of around 7.3 percent. Three-year paper traded at roughly 7.35 percent on the secondary market.

At a previous tender on Feb. 3, three-year paper sold at an average yield of 7.11 percent. So far this year, the ministry has sold 11.5 billion lei in debt. (Reporting by Luiza Ilie; Editing by Sam Cage) ($1=3.027 Lei)

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