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FinMin borrows over EUR 235.8 mn from banks

The Public Finances Ministry on Monday borrowed more than 235.8 million euros (close to a billion lei at an exchange rate of 4.24 lei to the euro) from the commercial banks by a discount T-bond issue put to tender via the National Bank of Romania (BNR).

The securities have one-year maturity and the average yield to which the issue was sold stands at 6.73 percent. The average weighted discount rate was of 6.30 percent.

The total value of the issue was one billion lei, with the demand from the 12 banks participating in the tender amounting to 2.358 billion lei.

Participating in the tender were Alpha Bank Romania, BRD - Groupe Societe Generale, Banca Comerciala Carpatica (BCC), Banca Comerciala Romana (BCR), Banca Transilvania, Bancpost, CEC Bank, Citibank România, ING, Raiffeisen Bank, RBS Bank Romania and UniCredit Tiriac Bank.

The Romanian Treasury seeks to borrow 4.7 billion lei from the banks in September by seven issues of T-bonds and government securities, according to information made public on the ministry's Web site.

The loaning programme is by 700 million lei larger than last month and the ministry will again issue government securities with less than one-year maturity, i.e. six and nine months respectively.

The Finances Ministry has borrowed close to 37 billion lei since the beginning of the year and it borrowed 41 billion lei from the domestic market last year.

The 2011 planned budget deficit, also agreed upon in the financial accord with the International Monetary Fund and the European Union amounts to 23.953 billion lei.

Sursa: http://www.actmedia.eu

Tags: banks billion ing rbs cec brd euro bnr bcr

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