Romania's Finance Ministry borrows over EUR 132 mln from local banks

The Finance Ministry borrowed yesterday RON 600 million (EUR 132.2 million) from banks, through a bond issue with a maturity of three years and three months, at an average yield of 1.72% per annum. The banks’ offers amounted to EUR 257 million. The state will organize today an additional auction for borrowing another EUR 19.8 million at the average yield of 1.72% per year. In January, the Finance Ministry plans to borrow over EUR 1 billion from commercial banks. The Ministry wants to issue bonds of EUR 10.5-11 billion in the internal market this year. It also plans to launch euro bonds of some EUR 3 billion. Most of the money will be used to repay previous bond issues that reach their maturities this year. editor@romania-insider.com