The Ministry of Finance (MF) on Monday borrowed more than RON 1.541 billion off banks in two issues, one of benchmark bonds and one of T-bills, according to data published by the National Bank of Romania (BNR).

MF drew RON 421 million through an issue of T-bills, with a residual maturity of 8 months, at an yield od 5.80% per annum. The nominal value of the issue was RON 300 million and the banks subscribed 789.2 million.

Moreover, the MF drew RON 1.120 billion through an issue of benchmark bonds, with a residual maturity of 45 months, at an yield of 6.26% per annum. The nominal value of the issue was RON 500 million and the banks subscribed RON 1.305 billion.

An additional auction is scheduled for Tuesday to borrow another RON 75 million at the yield set on Monday for the bonds.

MF has planned for August 2024 to borrow RON 5.1 billion off commercial banks, to which RON 600 million can be added in additional sessions of non-competitive offers related to bond auctions.

The total amount of RON 5.7 billion is RON 885 million lower than the one scheduled for July 2024 of RON 6.585 billion, and it is intended for public debt refunding and government deficit financing.

AGERPRES