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Finance Ministry sells benchmark bonds worth over EUR 190 mn

The Ministry of Public Finance (MFP) on Monday, raised 190.5 million euros (819.31 million lei) in a benchmark bond issue auctioned by the National Bank of Romania.

The government stock that reaches maturity in six months, namely on May 18, 2011 sold for an average yield of 7 percent. The coupon rate was 6.76 percent and the reoffer price was set at 96.6006 percent.

The total value of the issue was one billion euro and the total demand of the twelve banks involved in the tender was 1.894 billion euros.MFP rejected purchase offers exceeding an 7 percent yield.

Submitting bids were 12 primary dealers - Alpha Bank Romania, BRD - Groupe Societe Generale, Banca Comerciala Carpatica (BCC), Banca Comerciala Romana (BCR), Banca Transilvania, Bancpost, CEC Bank, Citibank Europe PLC Dublin - Romanian branch, ING Bank N.V. Amsterdam - Bucharest branch, Raiffeisen Bank, RBS Bank Romania and UniCredit Tiriac Bank.

MFP has planned to raise RON 4.65 billion (more than 1 billion euro) in six issues of Treasury bills and Government bonds.In the first ten months of 2010, the MFP borrowed more than 7 billion euros (almost 30 billion lei) off the domestic market, compared with over 15.25 billion euros (nearly RON 65 billion in all in 2009.

Sursa: http://www.actmedia.eu

Tags: billion mfp euro rbs ing brd bcr cec

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