The Ministry of Public Finance (MFP) has borrowed on Monday RON 500 million from banks, by issuing three-year bonds, at an average yield of 1.65% per annum.
The issue was of RON 500 million, but banks underwrote more than double – over RON 1.12 billion.
On Tuesday another auction is set by which the state wants to attract further RON 75 million at the same yield.
MFP has planned to borrow RON 3.455 billion from commercial banks in July 2016, of which RON 3.2 billion through seven auctions of treasury bills and government bonds and RON 255 million through additional sessions of uncompetitive biddings related to bond auctions.
The funds will be destined to refinance the public debt and finance the state budget deficit.