The Public Finance Ministry raised on Tuesday RON 805.1 million from banks through a benchmark government bond issue with a residual maturity of 88 months and an average yield of 7.50 ppa, shows data published by the National Bank of Romania (BNR).
The face value of the issue was RON 400 million, and banks submitted bids worth RON 975.1 million.
An additional bidding session is scheduled for Wednesday, through which the state intends to raise another RON 60 million at the yield set on Tuesday for the bonds.
The Finance Ministry is planning to borrow this June from commercial banks RON 5.1 billion, to which RON 705 million can be added through additional sessions of non-competitive bids related to bond auctions.
The total amount of RON 5.805 billion is by RON 255 million lower than the RON 6.06 billion planned for May and will be used to refinance the public debt and the state budget deficit. AGERPRES
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