The Public Finance Ministry raised on Monday 420 million lei from banks through a benchmark bond issue with a residual maturity of 112 months, at an average yield of 3.36 ppa, the National Bank of Romania announced.
The face value of the issue was 500 million lei, and banks submitted bids worth 445 million lei.
An additional bidding session is scheduled for Tuesday, through which the Finance Ministry plans to raise another 75 million lei for the yield set on Monday, Agerpres informs.
The Public Finance Ministry intends to borrow this July 4.8 bln lei from banks - of which 1.7 bln lei through three issues of discount T-bills, and 3.1 billion lei through eight bond issues, to which another 465 ml lei could add through additional non-competitive bids related to the bond auctions.
The total amount of 5.265 billion lei is 140 million lei more than the one planned for June 2021 and will be used to refinance the public debt and the state budget deficit.
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