The Ministry of Finance (MF) borrowed RON 3.334 billion from commercial banks on Thursday through an issue of government bonds and a discount T-bills issue, according to data published by the National Bank of Romania (BNR).
The ministry borrowed RON 1.022 billion through a bond issue with a residual maturity of 122 months and an average yield of 6.86% per annum. The nominal value of the issue was RON 500 million and banks subscribed to more than RON 1.239 billion.
An additional auction is scheduled for Friday, with the state seeking to attract another RON 75 million at the yield set Thursday for the bonds.
MF also borrowed RON 2.312 billion through an issue of 11-month discounted treasury certificates at an average yield of 6.02% per annum. The nominal value of the issue was RON 600 million and banks subscribed to over RON 3.010 billion.
The Ministry of Finance planned to borrow from commercial banks in June 2024 for an amount of RON 6.2 billion, to which RON 750 million may be added through additional non-competitive bidding sessions related to bond auctions.
The total amount of RON 6.95 billion is RON 1.06 billion higher than the RON 5.89 billion scheduled in May 2024 and will be used to refinance public debt and finance the budget deficit.
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