Romania’s Finance Ministry plans to borrow some EUR 868 million from local commercial banks in September.

The ministry plans to organize eight auctions of treasury certificates and state bonds, worth EUR 790 million, and to draw another EUR 78 million via additional noncompetitive sessions, reports local Economica.net. The money will be used to refinance the state’s debt and finance the budget deficit.

The Finance Ministry will launch two discount certificate issues, one worth EUR 158 million, on September 17, and one worth EUR 113 million, on September 28. It will also make six benchmark bond issues, worth a total EUR 519 million.

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