BUSINESS

Finance Ministry draws RON 700 by one-year certificates

The Ministry of Public Finance (MFP) drew, yesterday, RON 700 M in a one-year treasury certificates emission, at an average yield of 6.64 pc, above the yield paid in the preceding auction, of 6.34 pc, Mediafax reports. The banks subscribed bonds amounting to a total RON 1.328bln, above the indicative. Some dealers expected an average yield on the rise, given the reference yields of such instruments on the secondary market and in the international context, which led to higher financing costs. MFP announced it intended to take loans of RON 4bln in August, by state bonds emissions on the internal market, the same value as the one targeted in July, although the amount eventually borrowed was higher.

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