Romania plans to borrow RON 4 bln from banks in March

The Public Finance Ministry aims to take out loans of RON 4.075 billion from commercial banks in March, out of which RON 3.7 billion through seven tenders certified by treasury and state bonds and RON 375 million through additional sessions of non-competitive offers, affiliated to the bonds tenders.

The amounts will be used to refinance the public debt and to cover the state budget deficit.

According to the issuing prospects, the Ministry has in schedule two treasury tenders in March, one for six months, on March 16 and one for one year, on March 23, in value of RON 600 million each.

Also, the MFP will organize five bonds tenders of benchmark type, with a total value of RON 2.5 billion, followed the second day by an additional session of non-competitive offers, with a value of 15 percent of the initial value of the bonds issue.

Also in March the Ministry programmed a state bonds tender denominated in Euro through which it wants to attract EUR 200 million from the internal market for four years.