The Public Finances Ministry on Thursday borrowed 234.8 million lei from the local banks by an auctioning of benchmark government bonds with 57-month residual maturity, i.e. June 2019.
(1 euro=4.4 lei) The average yield for the bonds is of 3.54 percent, with 4.75 percent coupon rate. The banks bid a total 599.84 million lei and the prospectus value stood at 500 million lei. The bond auctioning will be followed on Friday by an additional session for another 75 million lei. The ministry has scheduled 3.07 billion lei worth of loans from the local commercial banks in September, 2.8 billion lei of which by means of seven T-bond and government bond auctions and 270 million lei by additional sessions of non-competitive offers relevant to the bond auctioning.
