Stiri	Stiri afaceri	Stiri companii	Evenimente de afaceri

The Finance Ministry places three-year benchmark bonds of only lei 301.75m, at a 10.24% yield

Romania's Public Finance Ministry (MFP) placed benchmark bonds maturing in three years of only 301.75 million lei today, at an average annual yield of 10.24 percent, lower than the one accepted in the previous bid, according to the central lender BNR.  

The ministry collected 64.5 percent less than the 850 million lei amount initially announced. The maximum yield accepted was of 10.25 percent a year.

Banks' offers amounted to 1.38 billion lei.

MFP placed three-year benchmark bonds worth 633.01 million lei at the similar bid on July 16, with a 10.98 percent annual yield.

The Finance Ministry already issued state securities of 51.2 million lei this year, up four-fold versus the whole 2008.

The International Monetary Fund (IMF) revised the target agreed with the Romanian authorities on the budget deficit at 7.3 percent of the gross domestic product (GDP) this year, versus 4.6 percent as previously established. Moreover, the Fund will allot about 1.75 billion euros from the second installment of the loan granted to Romania to cover the budget gap.

The Finance Ministry Gheorghe Pogea announced Romania's budget gap widened to 3 percent of the GDP in the first seven months.

Sursa: http://www.newsin.ro

Tags: yield percent finance bonds ministry benchmark three bnr mfp