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Politikul.ro > Economie > Finance Ministry Secures Over 310 Million Euros in Funding from Banks

Finance Ministry Secures Over 310 Million Euros in Funding from Banks

The Ministry of Finance in Romania has successfully secured funding by borrowing over 1.543 billion RON (equivalent to over 310 million EUR) from commercial banks. This was achieved through an issuance of benchmark government bonds with a residual maturity of 12 months, at a yield rate of 6.02 ppa, as reported by the National Bank of Romania (BNR) via Agerpres.

The nominal value of the bond issue was set at 400 million RON, attracting offers totaling 1.841 billion RON from the banks. However, the Ministry of Finance turned down bids for a 300 million RON bond issue with a residual maturity of 167 months.

Looking ahead, the Ministry of Finance has outlined plans to secure loans from commercial banks in April 2024, targeting an amount of 6 billion RON. Additionally, an extra 780 million RON may be obtained through non-competitive bids related to bond auctions.

The total sum of 6.78 billion RON earmarked for funding is 260 million RON higher than the initially planned 6.52 billion RON for March 2024. These funds will be utilized for refinancing public debt and covering the state budget deficit.

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