The Public Finance Ministry raised on Monday RON 600 million from banks through a benchmark bond issue with a residual maturity of 117 months, at an average yield of 6.95 pct per annum, the National Bank of Romania announced.

The face value of the issue was RON 600 million, and banks submitted bids worth RON 731.7 million.

An additional bidding session is scheduled for Tuesday, through which the Finance Ministry intends to borrow another RON 90 million for the yield set on Monday.

The Public Finance Ministry is planning to borrow this November RON 5.7 billion from commercial banks; another RON 795 million could add to this amount through additional non-competitive bids related to the bond auctions.

The total amount of RON 6.495 billion is by RON 95 million lower than the RON 6.405 billion planned for October 2024, and will be used to refinance public debt and cover the state budget deficit.

AGERPRES