The Public Finance Ministry (MFP) has borrowed RON 400 million off banks through a bond issue with a residual due date of 5 years and 10 months, at an average yield of 3.50 percent, this being the first security operation the Treasury carries out in July, Agerpres informs. MFP has practically reopened a seven-year bond issue, banks forwarding offers totalling RON 1.019 billion. The auction will be followed on Tuesday by an additional non-competitive bid session through which the Treasury wants to borrow RON 60 million at the same yield. MFP scheduled RON 4.105 billion loans from commercial banks in July, out of which RON 3.7 billion through eight T-bill and bond tenders and RON 405 million through additional sessions of non-competitive offers, corresponding to the bond tenders. The amounts will go to refunding public debt and funding the state budget deficit.