News Column

BRIEF: MFP borrows RON 80 million off banks, in addition to bond issue on Monday

February 11, 2014

Agerpres, Bucharest, Romania

Feb. 11--BUCHAREST -- Romania'sFinance Ministry (MFP) on Tuesday borrowed RON 80 million (about 17.88 million euros) off local commercial banks, in addition to a benchmark bond auction on Monday, February 10, in which it raised RON 800 million (about 178.75 million euros).

Three banks participated in the session for non-competitive bids on Tuesday, corresponding to the securities issue auctioned a day before.

On Monday, the MFP borrowed RON 800 million (nearly 178.75 million euros against the day's exchange rates) off local banks in benchmark bonds of a residual maturity of 40 months, for an average yield of 4.06 per cent.

The issue was worth RON 800 million. Nine banks filed bids for RON 1.060 billion. The bonds carry a coupon rate of 6.75 per cent.


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Source: Agerpres (Romania)

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