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Ministry of Finance Secures Over Two Billion Lei in Bank Loans

The Ministry of Finance (MF) secured more than RON 1.922 billion in bank loans on Thursday by issuing government bonds, as reported by the National Bank of Romania (BNR).

One bond issue, with a residual maturity of 45 months and an average yield of 6.3% per annum, raised RON 815 million. The nominal value was RON 500 million, and banks subscribed over RON 1.175 billion.

Another auction is planned for Friday to raise an additional RON 75 million at the same yield as Thursday’s bonds.

Additionally, the MF borrowed over 1.107 billion lei through a bond issue with a 121-month maturity, at an average yield of 6.82% per annum. The nominal value was RON 600 million, and banks subscribed RON 1.271 billion.

Another auction is scheduled for Friday to attract an extra RON 90 million at the same yield.

The Ministry of Finance aims to borrow RON 6 billion from commercial banks by July 2024, with a potential addition of 585 million lei through non-competitive bidding sessions related to bond auctions. The total amount of RON 6.585 billion is slightly lower than the initially planned RON 6.95 billion in June 2024. These funds will be used for public debt refunding and to cover the state budget deficit.

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