MFP borrows RON 1.304 bn for 6.79% interest
Agerpres - 3 February 2012
The Finance Ministry (MFP) on Thursday borrowed RON 1.304 billion (nearly 0.3 billion) off commercial banks, RON 554.45 million more than initially set, in a benchmark bond issue maturing in October 2014 auctioned by the National Bank of Romania (BNR).
The new issue is a resumption of an April 2011 issue.
The average yield is 6.79 and the bonds pay a coupon of 6.25 percent.
The total value of the issue was RON 750 million, for a total demand from 12 auctioning banks of nearly RON 2.782 billion.
Submitting bids were 12 banks - Alpha Bank Romania, BRD- Groupe Societe Generale, Banca Comerciala Carpatica (BCC), Banca Comerciala Romana (BCR), Banca Transilvania, Bancpost, CEC Bank, Citibank Romania, ING Bank, Raiffeisen Bank, RBS Bank Romania and UniCredit Tiriac Bank.
MFP intends to borrow RON 5 billion off the local banks this February in seven issues of treasury bills and Government bonds.
Source: http://www.agerpres.ro
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