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MFP accepts yields higher than 7% for T-bills

The Ministry of Public Finance (MFP) on Monday borrowed more than 999.97 million lei (about 235.287 million euros) from the commercial banks, in an issue of discount T-bills for which it accepted yields higher than 7 pct (the limit imposed by the banks until now).

The government securities, placed on tender via the National Bank of Romania (BNR), carry a one-year maturity. They were traded at a 7.22-yield percent and the weighted average discount rate was 6.73 percent.

The total value of the issue reached one billion lei, while total demand from the 12 banks that participated in the tender reached 1.98 billion lei.

Submitting bids there were 12 primary dealers - Alpha Bank Romania, BRD - Groupe Societe Generale, Carpatica Commercial Bank (CCB), the Romanian Commercial Bank (BCR), Banca Transilvania, Bancpost, CEC Bank, Citibank Romania, ING, Raiffeisen Bank, RBS Bank Romania and UniCredit Tiriac Bank.

The MFP scheduled tenders worth 4.6 billion lei in November, following six issues of T-bills and government bonds.

The MFP is going to launch an issue of government securities in euros on the internal market, on Thursday, November 25, with an announced value of 1 billion euros, to carry a three-year maturity and with a coupon rate of 4.5 percent.

The issue will be placed on tender, with the money to be used for financing the budget deficit and for refinancing the public debt.

Sursa: http://www.actmedia.eu

Tags: mfp bills ing rbs cec brd bnr bcr

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