Romanian Ministry of Finance borrows EUR 68 mln via bonds

The Romanian Public Finance Ministry on Thursday borrowed EUR 68 million through an issue of bonds maturing in April 2020. It borrowed at a yield of 2.36% per year, 0.2% below the yield previously paid for bonds with the same maturity, according to public data. At the end of March, the Finance Ministry paid a yield of 2.58% for bonds maturing in April 2020. Banks submitted offers of EUR 272.9 million, but the state attracted only the amount provided in the prospectus. The Ministry wants to borrow this month EUR 614 million, namely two-thirds of the monthly average from the first quarter. It is the smallest monthly amount planned in over a year. The Finance Ministry plans to attract less money from the local market through bond issuances in April, to allow the Bucharest City Hall to sell municipal bonds worth up to EUR 500 million. The Ministry wants to make sure the City Hall would attract the needed funds to refinance a bond issue from 2005, due in June. editor@romania-insider.com