Finance Ministry sells RON 436 mn worth of benchmark bonds for 7pc yield
Agerpres - 20 January 2012
The Ministry of Public Finance (MFP) on Thursday raised RON 436 mln (some 100.34 mln euros at the current exchange rate) from the commercial banks through a benchmark bond issue maturing in April 2016, placed through the National Bank of Romania; the raised amount was 45 pct more than planned.
This is actually the reopening of the April 2011 five-year bond issue.
The government stock was placed for an average yield of 7 pct. The coupon rate is 6 pct. Last year, the yield accepted for this category of bonds has been 7.35 pct.
The scheduled value of the issue was RON 300 mln and the total bid of the 12 participating banks was RON 1.41 bln.
The banks that participated in the bidding were as follows: Alpha Bank Romania, BRD - Groupe Societe Generale, Banca Comerciala Carpatica, Banca Comerciala Romana (BCR), Banca Transilvania, Bancpost, CEC Bank, Citibank Romania, ING, Raiffeisen Bank, RBS Bank Romania and UniCredit Tiriac Bank.(MFP) seeks to raise RON 4.5 bln (more than 1 bln euros) from local banks this January through six issues of treasury bills and government bonds, informs the Ministry's website.
In 2011, the Treasury has borrowed from local banks RON 51.5 billion as to RON 41 billion in 2010, via RON-denominated government stock.
Source: http://www.agerpres.ro
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ing
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