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Finance Ministry borrows EUR 462.6 mn from banks, at a 4.85% rate

The Ministry of Public Finance (MFP) have borrowed on Wednesday 462.6 million euros from the commercial banks, following a euro bonds issue, with four-year maturity, in July 2015.

The average yield to which the euro bonds were sold stood at 4.85 pct.

The issue was worth a total of 600 million euros, and the 12 participating banks offered bids for an aggregate 965.6 million euros. MFP rejected buying offers of the banks which exceeded a level of 4.85 percent.

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.

At the beginning of June, MFP borrowed on the foreign market 1.5 billion euros, by selling five-year maturity euro-bonds, this being the first issue of the Medium Term Notes (MTN) borrowing program.

Sursa: http://www.actmedia.eu

Tags: banks euro mfp rbs ing brd bcr cec

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