The Ministry of Finance (MF) on Monday borrowed RON 410 million off banks in an issue of benchmark bonds of a residual maturity of 175 months and an average yield of 6.90% per annum, according to data published by the National Bank of Romania (BNR), write Agerpres.

The nominal value of Monday’s issue was RON 500 million, and the banks offered RON 733.8 million.

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

MP has planned for August 2023 to borrow RON 4.6 billion off commercial banks, to which RON 645 million lei can be added in additional sessions of non-competitive offers related to bond auctions.

The total amount of RON 5.245 billion is RON 645 million higher than the one scheduled for July, of RON 4.6 billion, and it is intended for public debt refunding and government deficit financing.