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Finance Ministry raises EUR 53 mn in ten-year benchmark bonds

The Ministry of Public Finance (MFP) on Thursday raised around 53 mln euros (RON 226.49 mln at an exchange rate of RON 4.25 for 1 euro) from the commercial banks through a 10-year benchmark bond issue placed through the National Bank of Romania.

The government stock due in June 2021 was placed for an average yield of 7.59 pct. The coupon rate is 5.95 pct.

The issue was worth RON 400 mln and the total bid of the 11 participating banks was RON 566.53 mln. The cut-off yield was 7.65 pct.

The banks that participated in the bidding were as follows: Alpha Bank Romania, BRD - Groupe Societe Generale, Banca Comerciala Romana (BCR), Banca Transilvania, Bancpost, CEC Bank, Citibank Romania, ING, Raiffeisen Bank, RBS Bank Romania and UniCredit Tiriac Bank.

In the first seven months of the current year MFP raised more than RON 34 billion from banks, whereas the amount raised from the domestic market in 2010 was RON 41 billion.

The budget deficit established for 2011 and approved as part of the financial package with the IMF and the European Union amounts to RON 23.953 billion. At the end of May 2011, Romania's public debt amounted to RON 200.663 billion (approximately 47 billion euros), representing 37.02 pct of GDP, up one percentage point from the end of April 2011, according to the data released by MFP.

Sursa: http://www.actmedia.eu

Tags: billion mfp rbs ing bcr euro brd cec

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