The Finance Ministry has borrowed RON 600 million from banks on Monday, through a bond issued due on January 17, 2018, at an average yield of 1.47% per annum.
The value of the issue prospectus was of RON 600 million, and all banks’ offers amounted to only RON 989.8 million.
A supplementary auction will be held on Tuesday, as the state wants to attract another RON 90 million with the same yield.
The Finance Ministry has planned to borrow RON 4.56 billion from commercial banks in January 2016, of which RON 4.2 billion through eight auctions of Treasury bills and state bonds and RON 360 million through supplementary sessions of uncompetitive offers for bonds auctions.
The amounts are destined to refinance the public debt and to finance the state budget deficit.