Romania’s Finance Ministry borrows RON 275 mln at average yield of 4.19 pct

Newsroom 03/09/2018 | 14:45

The Ministry of Public Finance (MFP) borrowed RON 275 million from banks through a bond issue with a maturity of 38 months at an average yield of 4.19 percent per annum.

According to data submitted by the Bank National Bank of Romania (BNR), the nominal value of the month issue was RON 500 million and the banks subscribed RON 420 million. On Tuesday, an additional auction is scheduled for the state to raise another RON 75 million at the same yield set on Monday.

MFP planned in September loans from commercial banks of RON 3.935 billion, out of which RON 3.5 billion through state bonds auctions and treasury certificates, to which can be added the amount of RON 435 million through additional sessions of uncompetitive bids related to bond auctions.

The amounts will be used to refinance the public debt and finance the state budget deficit. Compared to August, the MFP programmed loans for September are RON 1.1 billion higher. 

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