The Finance Ministry is planning to raise this May 5.1 billion RON from commercial banks, to which another 690 million RON may add through additional non-competitive bidding sessions related to bond auctions, write Agerpres.

The total of 5.79 billion RON is by 1.84 billion RON lower than the 7.63 billion RON scheduled for April, and will be used to refinance public debt and finance the state budget deficit.

According to the prospectus published in the Official Journal, the Finance Ministry has an auction scheduled for May 8, 2023 for a discount T-bill issue worth 500 million RON and maturing on April 29, 2024.

Eight benchmark bond issues worth a total of 4.6 billion RON will also be launched this May, followed the next day by an additional non-competitive bidding session for 15 percent of the initial value of the bonds (690 million RON in total).

Thus, three issues of 700 million RON each are scheduled for May 15, 18 and 29, two issues of 600 million RON each are planned for May 4, another two of 500 million RON each are scheduled for May 11 and 22, and one of 300 million RON for May 25.