Finance Ministry raises 940 ml lei from banks for average yield of 3.51 ppa

The Public Finance Ministry raised on Thursday 940 million lei from banks through a benchmark bond issue with a 46-month residual maturity, at an average yield of 3.51 ppa, the National Bank of Romania announced.

The face value of the issue was 500 million lei, and banks submitted bids worth 1.764 billion lei.

An additional bidding session is scheduled for Friday, through which the FinMin plans to raise another 75 million lei for the yield set on Thursday.

The Public Finance Ministry intends to borrow this June 4.5 bln lei from banks - of which 1.1 bln lei through two issues of discount T-bills, and 3.4 billion lei through seven bond issues, to which another 510 ml lei could add through additional non-competitive bids related to the bond auctions.