Finances Ministry borrows RON 400 M

The Public Finances Ministry borrowed RON 400 million from the banks on Monday by means of bonds with 3-year residual maturity, at 3.95 percent average yield. The bond issue (the ministry actually re-opened a 10-year bond issue from June 2007 – editor’s note) totalled RON 400 million, with the banks bidding a combined RON 1.6 billion, Agerpres informs. The auctioning will be followed by an additional session of non-competitive offers on Tuesday, by which the Treasury seeks to borrow RON 60 million at the same yield. The Finance Ministry has planned RON 3.445 billion in borrowing from the commercial banks in May, with RON 3.1 billion of it by means of six T-bonds and government bond auctioning and another RON 345 million via additional sessions of non-competitive offers relevant to the bond auctioning. The money is aimed at re-funding the public debt and financing the state budget deficit.

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