The Public Finance Ministry raised on Monday 843 million RON from banks through a benchmark bond issue with a residual maturity of 110 months, at an average yield of 6.53 pct per annum, the National Bank of Romania announced.
The face value of the issue was RON 500 million, and banks submitted bids worth almost RON 1,173 billion.
An additional bidding session is scheduled for Tuesday, through which the Finance Ministry intends to borrow another RON 75 million for the yield set on Monday.
The Public Finance Ministry is planning to borrow this July RON 4 billion from commercial banks; another RON 600 million could add to this amount through additional non-competitive bids related to the bond auctions.
The total amount of RON 4.6 billion is by RON 1.88 billion lower than the RON 6.48 billion planned for June 2023, and will be used to refinance public debt and cover the state budget deficit. AGERPRES