Romania’s Finance Ministry borrowed on September 7 almost EUR 113 million from local banks, through a bond issue with 21-month residual maturity and an average yield of 1.76% per year.

The value in the prospectus amounted to EUR 113 million, but the banks submitted offers for EUR 429 million, almost four times that amount, reports local Agerpres. The state will organize on Tuesday an additional session to borrow another EUR 17 million, at Monday’s yield.

The Finance Ministry plans to borrow EUR 868 million from commercial banks in September. It will borrow EUR 790 million through eight Treasury bill and bond actions and EUR 78 million through additional non-competitive bid sessions.

editor@romania-insider.com