BUSINESS

Finance Ministry borrows RON 300 M through 4-year bonds

The Ministry of Finance yesterday raised a total of RON 300 through bonds with a residual maturity term of four years and a yield of 4.53 per cent, above the cost of the bonds sold at the beginning of May. The banks subscribed RON 701 M and the indicative value was RON 300 M. For today, the Finance Ministry has scheduled an additional session for non-competitive offers to borrow another RON 30 M. At the beginning of May, the public debt administrators attracted RON 800 in the form of five-year bonds with an all-time low yield of 4.4 per cent per annum. The Treasury also sold bonds as part of the same issue as the one opened on Monday in February, when it borrowed RON 500 M with a yield of 5.79 per cent. In May, the Finance Ministry borrowed RON 2.9 bn, representing 76 per cent of the total allocated for the month of RON The sum scheduled for borrowing in May is smaller than April, when the Government raised RON 5 bn by selling bonds in RON (RON 2.5 bn) and EUR (EUR 581.4 M, the equivalent of RON 2.55 bn).

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