Romania revises May domestic debt issuance down to 4.38 bln lei-finmin data

BUCHAREST, May 7 (Reuters) - Romania has revised down its domestic debt issuance plan for May to some 4.38 billion lei ($971.91 million) from an initial target of 6.06 billion lei, finance ministry data showed on Wednesday, as political uncertainty fueled by a presidential election hurt demand.

After a Monday bond sale failed due to weak demand, the ministry has cut down the number of tenders which now focus on shorter maturities. There are four bond tenders still scheduled with maturities ranging from 1.2 to 5.2 years and three auctions for one-year and eight- and three-month treasury bills.

Romania has sold just over 37.3 billion lei worth of domestic debt in the first four months, and tapped foreign markets twice, selling 5.55 billion euros worth of 2030, 2032, 2034 and 2039 eurobonds and $1.25 billion worth of 2037 paper.

($1 = 4.5066 lei)