Finance Ministry borrows RON 334m from commercial banks with 4.5% interest rate

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The Finance Ministry has borrowed on Monday RON 334.1 million from commercial banks, with an interest rate of 4.5% per annum, in a state bond issue with residual maturity of 86 months.

According to National Bank of Romania (BNR) figures, the total demand was RON 506.6 million, with a nominal issuance value of RON 300 million.

A supplementary auction is scheduled on Tuesday, with the state trying to get another RON 45 million at the same yield.

The Finance Ministry has scheduled for February 2018 loans from commercial banks amounting to RON 1.9 billion, of which RON 400 by a supplementary treasury bond issue with discount and RON 1.5 billion by additional issuance of uncompetitive offers related to bonds auctions.

As compared to January, the loans scheduled by the Finance Ministry are lower by RON 1 billion. The amounts are destined to fund the public debt and the state budget deficit.



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