Romania's Finance Ministry borrows EUR 162 mln from banks

Romania’s Finance Ministry borrowed yesterday RON 730.4 million (EUR 162 million) from local commercial banks, more than double compared to the estimated amount, via a six-year bond issue. The average yield amounted to 3.14% per year. Banks submitted total offers of EUR 207.1 million. An additional auction will take place today, as the state is interested to attract another EUR 10 million at the yesterday’s yield. This month the Finance Ministry wants to borrow RON 3.4 billion (EUR 755 million) from commercial banks, namely RON 3.1 billion (EUR 688 million) through seven auctions of treasury bills and government bonds and some EUR 70 million through additional sessions of non-competitive bidding. The money will be used to refinance public debt and finance the budget deficit. editor@romania-insider.com