Romania's Ministry of Finanace issues one-year treasury bills to borrow EUR 158 mln

Romania’s Finance Ministry borrowed EUR 158 million from banks yesterday, through a one-year Treasury bill issue, at an average yield of 1.43% per year. Banks submitted offers totaling EUR 406 million, more than double compared to the value in the prospectus. The Finance Ministry plans to borrow EUR 868 million in September from commercial banks. It wants to get most of the amount through eight auctions of treasury bills and bonds (EUR 790 million), and the rest via additional sessions of non-competitive bids. It will use the money to refinance public debt and finance the state budget deficit. In 2015, the Finance Ministry plans to borrow up to EUR 2.7 billion from the domestic market. editor@romania-insider.com