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January 27, 2022

A lot of money on the financial market * Finance Ministry asks for a loan of RON 300 M and the banks offer RON 1.44 bln

The Public Finance Ministry (MFP) has borrowed on Monday RON 300 M from banks, by issuing six-month government bonds at an average yield of 1.21 per year. The issuance’s prospectus value stood at RON 300 M and the banks filed total offers of RON 1.44 bln.

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 certificates and government bonds and RON 255 M through supplementary tenders for non-competitive bids related to government bonds tenders. The sums will be used to re-finance the public debt and to finance the budget deficit.

According to the issuance prospectuses, the MFP will organize two tenders for discounted treasury certificates, worth RON 300 M each, on July 9 and 27. The MFP will also organize six tenders for benchmark bonds with a total value of RON 1.7 bln and three-, five-, seven- and ten-year maturities, followed the next day by a supplementary tender for non-competitive offers worth 15 per cent of the initial value of the bond issuance.

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

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