The Ministry of Finance (MF) borrowed 335.5 million lei from banks on Monday through an issue of benchmark bonds with a residual maturity of 29 months, at an average annual yield of 6.66%, according to data published by the National Bank of Romania (NBR).
The issue's nominal value was 500 million lei, and banks invested 435.5 million lei.
A supplementary tender is scheduled for Tuesday, through which the state aims to raise an additional 50.4 million lei at the yield established for the bonds on Monday.
The Ministry of Finance has planned loans from commercial banks totaling 7.2 billion lei for September and this amount may be supplemented by 15% of the nominal value awarded at benchmark tenders, through additional non-competitive offer sessions organized exclusively for benchmark instruments.
The 7.2 billion lei figure, outlined in the prospectuses for the issuance of discount Treasury certificates and benchmark government bonds, is similar to the amount planned for August and is intended for the refinancing and early repayment of public debt, as well as for financing the state budget deficit.
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