The Ministry of Public Finance (MFP) raised today 706.6 million lei from banks for a benchmark bond issue with a 50-month residual maturity, at an average yield of 3.89 pct per annum, shows data released by the National Bank of Romania (BNR).
The nominal value of the issue was 600 million lei and the banks filed bids worth 1.294 billion lei.
An additional bidding session is scheduled for Tuesday, as the FinMin plans to raise another 90 million lei for the yield set on Monday.
The Ministry of Public Finance intends to borrow this July 4.21 bln lei from banks - of which 300 ml lei through the issue of discount T-bills, and 3.4 billion lei by reopening government bond issues; another 510 million lei could add to the previous figures through additional non-competitive bids related to bond auctions.
The loans planned for July are by 215 ml lei, or 4.86 pct less than in June. The raised amounts will be used to refinance the public debt and the state budget deficit.