BUSINESS

Finance Ministry draws RON 372.2 M via 5 year bond issue

The Ministry of Public Finance has attracted RON 372.2 M from selling 5-year maturity bonds, a little over half of the overall RON 700 M issue, with a slightly rising yield of 7.35 pc, Mediafax reports. Subscriptions totalled RON 926.2 M.

The issue is due in April 2016. The market was expecting the yield to go slightly up, given global markets turmoil. The Finance Ministry’s June bond issue raised RON 500 M with an yield of 7.3 pc. The Ministry announced its intention to borrow RON 4 bln in August through a domestic bond issue, a value similar to that stipulated for the July issue, despite the borrowed amount being higher actually. The next bond auction is scheduled for Monday, August 8, when the Treasury seeks to sell one-year certificates worth RON 700 M.

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