The Public Finance Ministry raised on Monday RON 345.4 million from commercial banks through a benchmark bond issue with a residual maturity of 56 months, at an average yield of 6.37 pct per annum, the National Bank of Romania announced.

The face value of the issue was RON 500 million, and banks submitted bids worth RON 570.4 million.

An additional bidding session is scheduled for Tuesday, through which the Finance Ministry intends to borrow another RON 75 million for the yield set on Monday.

The Public Finance Ministry is planning to borrow this August RON 5.1 billion from commercial banks; another RON 600 million could add to this amount through additional non-competitive bids related to the bond auctions.

The total amount of RON 5.7 billion is by RON 885 million lower than the RON 6.585 billion planned for July 2024, and will be used to refinance public debt and cover the state budget deficit.

AGERPRES