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Finance Ministry raises RON 1.2 bln-plus from banks

Ministerul Finanțelor Publice
MFP Ministerul Finanțelor

The Finance Ministry raised on Monday RON 1.202 million from banks through two benchmark bond issues with a residual maturity of 153 and 69 months, respectively, the National Bank of Romania announced.

Thus, the Finance Ministry borrowed RON 676.5 million through an issue maturing on October 25, 2027 with the face value of RON 500 million, at an average yield of 5.09 pct per annum; banks submitted bids worth over RON 1.149 billion.

Another RON 526 million were drawn through a bond issue maturing on October 11, 2034, at an average yield of 5.51 ppa. The face value of the issue was RON 300 million, and the participating banks subscribed RON 913 million.

Two additional bidding sessions are scheduled for Tuesday, through which the Finance Ministry intends to borrow another RON 75 million and RON 45 million, respectively, for the yields set today.

The Public Finance Ministry intends to borrow this January RON 4.4 billion from commercial banks, of which RON 300 million through an issue of discount T-bills, and RON 4.1 billion through ten bond issues. Another RON 615 million could add to this amount through additional non-competitive bids related to the bond auctions.

The total amount of RON 5.015 billion is by RON 1.595 billion higher than the RON 3.42 billion planned for December 2021, and will be used to refinance public debt and cover the state budget deficit.


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