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December 8, 2022

Finance Ministry borrows RON 300 M from banks at yield of 1.55 pc

The Public Finance Ministry (MFP) has borrowed RON 300 M from banks on Thursday, by issuing one-year government bonds at an average yield of 1.55 per cent per year.

The MFP plans to borrow RON 2.555 bln from commercial banks in July, of which RON 2.3 bln through eight tenders for treasury bills and government bonds and RON 255 M through supplementary sessions for non-competitive bids related to the bond tenders.

The sums will be used to refinance the public debt and to finance the budget deficit.

According to the issuance prospectuses, the MFP will organize two tenders for discounted treasury bills worth RON 300 M each, on July 9 and 27.

Likewise, six tenders will be organized for benchmark bonds worth a total of RON 1.7 bln and with three-, five- and ten-year maturities, each of them followed by a supplementary session for non-competitive bids worth 15 per cent of the initial value of the bond issuance.

In 2015 the MFP plans to borrow approximately RON 10-12 bln from the internal market by issuing treasury bills and RON 25-28 bln by issuing benchmark bonds.



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