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Finance Ministry sells nearly RON 372.22 mn worth of benchmark bonds

The Ministry of Public Finance (MFP) on Thursday raised RON 372.22 million (about EUR 88.203 million) in a benchmark bond issue due on April 30, 2016, auctioned off by the National Bank of Romania to local commercial banks.

The government stock sold for an average yield of 7.35 pct, whereas the average cut-off rate was 94.7136 pct. The coupon rate was 6 pct.

The issue was worth a total of RON 700 million and the 12 participating banks offered bids for an aggregate RON 926.22 million.

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.

In keeping with the regulations on the BNR-managed primary government stock market, MFP rejected the buy bids for a price below 94.5395 pct.

MFP intends to borrow four billion lei from banks this August via six issues of treasury bills and government bonds.

Sursa: http://www.actmedia.eu

Tags: mfp rbs bnr ing cec brd bcr

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