Banks did not participate in the non-competitive bidding session on Thursday, when the Ministry of Finance (oF) borrowed 400 million lei, according to data provided by the National Bank of Romania (BNR) on Friday.
According to the BNR, on Thursday, the Ministry of Finance borrowed 400 million lei off banks, through a benchmark government bond issue, with a residual maturity of 75 months, at an average yield of 3.25pct per year.
The nominal value of Thursday's issue was 400 million lei, and the banks subscribed 525.9 million lei, Agerpres informs.
An additional bidding session was scheduled for Friday, with the state intending to attract another 60 million lei to the yield set for the bonds on Thursday.
The Ministry of Finance (MF) planned, in August 2021, loans from commercial banks of 3.7 billion lei, of which 1.3 billion lei through two issues of discounted treasury certificates and 2.4 billion lei through seven government bond issues.
To these it can be added the amount of 360 million lei through additional sessions of non-competitive offers.
The total amount, of 4.06 billion lei, is 1.205 billion lei lower than the one scheduled in July 2021 (5.265 billion lei) and will be destined to refinance the public debt and to finance the deficit of the state budget.