The Public Finance Ministry raised on Monday 567.5 million RON from banks through a benchmark bond issue with a residual maturity of 64 months, at an average yield of 9.23 ppa, the National Bank of Romania announced.
The face value of the issue was 500 million RON, and banks submitted bids worth 589.5 million RON.
An additional bidding session is scheduled for Tuesday, through which the Finance Ministry plans to raise another 75 million RON for the yield set on Monday.
The Public Finance Ministry intends to borrow this June 3.9 billion RON from banks - of which 200 million RON through an issue of discount T-bills, and 3.1 billion RON through a new bond issue.
Another 555 million RON could add to these amounts through additional non-competitive bids related to the bond auctions.
The total amount of 4.455 billion RON exceeds by 1.725 billion the 2.73 billion RON planned for May and will be used to refinance the public debt and the state budget deficit.