Finance Ministry borrows further RON 500m from commercial banks


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The Ministry of Public Finances (MFP) borrowed RON 500 million on Monday from commercial banks through a benchmark government bond issue with a residual maturity of 115 months, at an average yield of 4.63% on year, the National Bank of Romania (BNR) informs.

The nominal value of the issue was RON 500 million and the banks have subscribed RON 672.8 million.

An additional auction is scheduled on Tuesday, with the state wanting to borrow another RON 75 million at the same yield as on Monday.

MFP has scheduled for July 2019 loans from commercial banks worth RON 4.21 billion, of which RON 300 million through an issue of treasury certificates with discount and RON 3.4 billion through new government bond issues, to which the amount of RON 510 million may be added through additional uncompetitive tender sessions related to bond auctions.

Compared to June, the loans scheduled by MFP in July are lower by RON 215 million, respectively by 4.86%. The amounts will be used to refinance the public debt and to finance the state budget deficit.

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