The Finance Ministry raised on Thursday RON 1.003 billion from banks through a benchmark bond issue with a residual maturity of 118 months, at an average yield of 8.06 pct per annum, the National Bank of Romania announced, according to Agerpres.

The face value of the issue was RON 400 million, and banks submitted bids worth RON 1.391 billion.

An additional bidding session is scheduled for Friday, through which the Finance Ministry intends to borrow another RON 60 million for the yield set on Thursday.

The Public Finance Ministry was planning to borrow this November RON 4.2 billion from commercial banks; another RON 585 million could add to this amount through additional non-competitive bids related to the bond auctions.

The total amount of RON 4.785 billion is by RON 920 million higher than the RON 3.865 billion planned for October 2022, and will be used to refinance public debt and cover the state budget deficit.

Agerpres