Finance Ministry borrows RON 473m from banks

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The Ministry of Public Finance (MFP) has borrowed RON 473 million from banks on Monday through benchmark bonds on 73 months, at an average yield of 4.20% per annum, according to data provided by National Bank of Romania (BNR).

The nominal value of the issue was of RON 400 million, but the banks have over-subscribed the offer up to RON 576 million.

An additional auction is scheduled on Tuesday by which the state intends to borrow another RON 60 million for the same yield as on Monday.

MFP planned for March 2018 loans from commercial banks of approximately RON 3.95 billion, out of which RON 3.5 billion through state bonds auctions and treasury certificates, to which may be added the amount of RON 450 million through additional sessions of uncompetitive offers related to the bond auctions.

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