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The Ministry of Public Finances (MFP) has borrowed on Monday RON 500 million from banks, through an issue of bonds with residual maturity of 21 months, at an average yield of 1.76% per annum.
The value of the issue was RON 500 million; the banks submitted offers worth overall RON 1.9 billion.
An additional session will be organized on Tuesday in which the state wants to attract another RON 75 million at the same yield.
MFP has planned RON 3.845 billion as loans from commercial banks in September, of which RON 3.5 billion through eight auctions of treasury bills and state bonds and RON 345 million through additional sessions for uncompetitive offers, related to the auctions for bonds.
The funds will be intended to refinance the public debt and finance the state budget deficit.
In 2015, MFP intends to borrow from the domestic market about RON 10-12 billion by issuing treasury bills and RON 25-28 billion by issuing benchmark bonds.
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