Finance Ministry borrows 45 million lei off banks in second August auction

The Ministry of Public Finance (MFP) borrowed 45 million lei off banks on Tuesday in addition to Monday's auction, when it borrowed 201 million lei, at an average yield of 3.94% per annum in a benchmark government bond issue of a residual maturity of 122 months, according to data published by the National Bank of Romania (BNR).

The nominal value of the additional issue was 45 million lei, and the banks submitted bids worth 65 million lei.

MFP has planned to borrow 3.45 billion lei off commercial banks in August 2020, of which 3 billion lei in eight issues of government bonds, adding to which will be 450 million lei in additional sessions of non-competitive bids related to bond auctions.

The amount, lower than the 5.3 billion lei scheduled for July, will be used to refinance public debt and finance the general government deficit.