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October 24, 2021

MFP borrowed RON 500 M off local banks

The Ministry of Public Finances (MFP) has borrowed on Thursday RON 500 million (around EUR 113.2 million at yesterday’s exchange rate) from local banks, through bonds with a due date in April 2020 at an average yield of 4.29 percent, Agerpres informs.
The bond issue (e.n. – MFP practically reopened bond issue of March 2013, with a 7 year due date) had a total value of RON 500 million, the banks participating putting up offers worth RON 1.22 billion.
The bidding session will be followed on Friday by an additional session of noncompetitive bids through which the Treasury wants to borrow RON 75 million.
The Public Finance Ministry planned to borrow RON 3.445 billion from commercial banks in May, out of which 3.1 billion lei through six T-bill and state bond issues and RON 345 million through additional sessions of non-competitive offers, corresponding to the bond tenders.
The amounts will be devoted to public debt refunding and to state budget deficit funding.

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