Romania's Treasury will issue bills and bonds in a planned overall amount of RON 4bn and EUR 200mn [RON 0.98bn] in January, the ministry of budget announced. In euro terms, the Treasury will thus drain RON 5bn [ EUR 1.1bn ] in January. For comparison, it planned issues with a total size of RON 4bn in December, when it eventually drained RON 4.38bn. The Treasury already took a head start in financing the government's 2014 budget deficit by arranging in December a EUR 110mn loan from the EIB, aimed at co-financing EU-funded rural development programmes. The auction for the EUR 200mn bond planned this month, with a maturity of 5 years, will take place on January 23 . The bond will hold a 3.4% coupon payable on an annual basis. Out of the RON-denominated issues, RON 1.5bn will be in bills and the remaining RON 2.5bn in bonds with residual maturities of 2.6 to 13.5 years.
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