Finance Ministry to borrow more than EUR 1bn in May

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The Finance Ministry intends to issue bonds in EUR and RON worth more than EUR 1.1 billion in May, the prospectus published by the Official Gazette on Friday reveals.

“In view of funding the state budget deficit and of refinancing the public debt in May 2019, it is approved the prospectus of the issue of discount treasury bonds and of benchmark state bonds, with nominal value of RON 3.6 billion, to which it could be added the amount of RON 480 million from additional sessions of uncompetitive offers,” the document reads, according to hotnews.ro.

The Finance Ministry has also envisaged two state bonds issues in EUR, one worth EUR 100 million and the other one worth EUR 250 million, due in 2023 and 2021 respectively, with coupon interest rates of 1% and 1.25% respectively.

The first issue will take place on Monday, May 6, worth RON 500 million (benchmark bonds) with a coupon rate of 4%, due in August 2022.

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