The Public Finance Ministry raised on Monday RON 990.1 million from commercial banks through a benchmark bond issue with a residual maturity of 54 months, at an average yield of 6.54 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 1.540 billion.

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 October RON 5.7 billion from commercial banks; another RON 705 million could add to this amount through additional non-competitive bids related to the bond auctions.

The total amount of RON 6.405 billion is by RON 730 million higher than the RON 5.675 billion planned for September 2024, and will be used to refinance public debt and cover the state budget deficit.

AGERPRES