The Finance Ministry (MF) on Thursday borrowed 638.3 million lei from banks through a benchmark government bond issue with a residual maturity of 25 months and an average yield of 6.08% per annum, according to data published by the National Bank of Romania (BNR).

The nominal value of the issue was 500 million lei, and banks subscribed over 1.563 billion lei.

An additional auction is scheduled for Friday, where the state wants to attract another 75 million lei at the yield set Thursday for the bonds.

The Ministry of Finance (MF) has planned to borrow 4 billion lei from commercial banks in December 2023, to which 525 million lei can be added through additional non-competitive bidding sessions related to bond auctions.

The total amount of 4.525 billion lei is 1.15 billion lei less than the 5.675 billion lei programmed in October and will be used to refinance public debt and finance the state budget deficit.

Source: AGERPRES