he Ministry of Public Finance (MFP) borrowed RON 200 million from banks on Monday, through an issue of bonds carrying a residual maturity of 8 years and 10 months, at an average yield of 4.50 percent. The banks submitted bids worth 484.15 million lei, and the Treasury did not accept yields above 4.51 percent. The Treasury will hold an additional session of non-competitive bids on Tuesday, aiming to borrow RON 30 million at the same yield, this being its last operation with state bonds this June. MFP has planned to borrow RON 3.715 billion off commercial banks this June, namely RON 3.4 billion in eight auctions of treasury certificates and Government bonds and EUR 315 million in additional sessions of non-competitive bids related to the issuances of bonds. The raised money will be used to refund public debt and fund the deficit in the national budget.