Finance Ministry planning to borrow 1.9 bln lei from banks this February

The Public Finance Ministry (MFP) is seeking to raise this February 1.9 bln lei from commercial banks; the Ministry plans to raise 400 ml lei through an issue of discount T-bills, and 1.5 bln lei by reopening government bond issues. Another 255 million lei might add to these amounts through additional non-competitive bids related to bond auctions.

The loans planned for February are 1 bln lei less than in January. The raised amounts will be used to refinance the public debt and the state budget deficit.

According to the issue prospectuses, on February 14 the MFP will hold an auction for discount treasury bills worth 400 million lei, with a 336-day maturity.

Six auctions will also be reopened for benchmark bonds worth an aggregate 1.5 billion lei, followed the next day by an additional session of non-competitive bids for 15 percent of the initial value of the issue (225 ml lei in total).