Alexandru Nazare: Investor demand for government bonds was five times the amount offered

Investor demand for Romanian government securities reached approximately 2.5 billion lei on Thursday, five times the volume announced by the Ministry of Finance. The institution held an auction to reopen an issue of government securities with a three-year maturity, with a scheduled value of 500 million lei.

The Ministry of Finance awarded approximately one billion lei, at an average yield of 6.81%, below the level recorded on the secondary market. Finance Minister Alexandru Nazare described the result as one of the strongest oversubscriptions for a lei-denominated issue in recent months. According to him, comparable demand had not been recorded since the beginning of the year.

Yields on Romanian government securities fell on Thursday across all relevant markets. The decrease was approximately 10-15 basis points for lei-denominated issues and 5-15 basis points for euro- and dollar-denominated financing, depending on maturity.

Alexandru Nazare said that the development was a positive signal, but stressed that a sustainable reduction in financing costs depends on the stability and predictability of fiscal and budgetary policy. For October 2026, the Ministry of Finance has scheduled loans of 5.8 billion lei from commercial banks, intended to refinance public debt and finance the budget deficit.