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Bucharest
February 24, 2021
BUSINESS

Three banks bought half of foreign currency bonds put on sale last week

The Romanian Commercial Bank (BCR), the Romanian Development Bank (BRD) – Groupe Société Générale and Raiffeisen Bank bought, on Thursday, half of the foreign currency bonds worth EUR 1.3 bln issued by the Ministry of Public Finance, and the highest yield required by the bidders was of 5.5 per cent per year, sources in the banking sector stated, for Mediafax. The Ministry has to reimburse, on Monday, November 29, a EUR 1.42 bln-loan, contracted in November 2009, by selling foreign currency state bonds maturing in one year, at an average yield of 4.25 per cent a year. “The loan is an advantageous one and I don’t know why it caused such a fuss,” Adrian Vasilescu, advisor to the central bank governor told a press conference on Friday.

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