BUSINESS

Finance Ministry raises 300 mln lei from commercial banks, at 2.93 pct yield

The Ministry of Public Finance (MFP) on Monday borrowed 300 million from the commercial banks, in a seven-year bond issue, auctioned off for a yield of 2.93 percent, a residual maturity of 65 months, with the total bid of the participating banks standing at nearly 2 billion lei.

The Treasury borrows cheaper for this type of bonds, after having accepted in Sept. an average yield of 4.35 percent.
The Finance Ministry on Tuesday will organize an additional session related to Monday’s bond auction, with the purpose to raising another 45 million lei at the same yield set up for Monday’s auction.
The Ministry of Public Finance intends to borrow this November 3.645 bln lei from commercial banks, of which 3.3 billion lei through seven T-bill and bond auctions, and 345 million lei through additional non-competitive bids related to bond auction

 

 

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