Romania's Finance Ministry sold bonds worth RON 500 mln to banks

Romania’s Finance Ministry sold bonds worth RON 500 mln to banks

Newsroom 22/08/2016 | 17:17

The Romanian Finance Ministry has raised RON 500 million from banks through a bond issuance at an average yield of 1.81 percent/year. The offering was oversubscribed two times and a half.

On Tuesday a supplementary tender will be organized through which the state aims to attract another RON 75 million at the yield established today.

The ministry has planned to take out loans of RON 4.43 billion from commercial banks in August, out of which RON 4 billion through eight certificates tenders of treasury and state bonds and RON 435 million through supplementary sessions of non competitive offers affiliated to the bonds tender.

The amount will be destined to refinancing of public debt and financing of state budget deficit.

According to the issuing prospects, the Ministry organized in August two certificates tenders of treasury with discount valued at RON 1.1 billion.

The last loan was taken on Thursday valued at RON 500 million through a bonds issuing for four years and a half at an average yield of 2.13 percent per year.

Georgiana Bendre