Finance Ministry takes out RON 500 mln loan at average yield of 2.13 pct

Newsroom 18/08/2016 | 16:45

The Ministry of Public Finance took on Thursday a RON 500 million loan from banks through a bonds issuing for four years and a half at an average yield of 2.13 percent per year.

The total value of issue was RON 500 million, in an offering that was oversubscribed two times, respectively RON 999 million.

An additional tender will be organized on Friday through which the state aims to gather another RON 75 million at the established yield.

The Ministry has already planned to take out loans of RON 4.435 billion from the commercial banks in August, out of which RON 4 billion for eight tenders of treasury certificates and state bonds and RON 435 million through supplementary sessions of noncompetitive offers, affiliated to the bonds tenders, according to Agerpres.

The amounts will be allocated to the public debt refinancing and to the state budget deficit financing.

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

Moreover, six bonds tenders of benchmark type will be organized with a total value of RON 2.9 billion, each being followed the second day by an additional session of noncompetitive offers with a value of 15 percent of the initial value of the bonds issue.