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Romanian state borrows EUR 42 mn from commercial banks

The Public Finances Ministry on Thursday borrowed 42 million euros /182.09 million lei/ from the commercial banks by a benchmark bond issue that matures in three years, put to tender via the National Bank of Romania.

The securities mature in Oct. 2014 and the average yield for which the issue was sold stands at 7.49 percent. The coupon rate is of 6.25 percent.

The Romanian Treasury has a schedule for 4 billion lei worth of loans from the banks in Oct. via six T-bonds and government bonds issues.

The Finances Ministry, in the nine months of this year, borrowed nearly 40 billion lei from the banks; it took up loans of more than 41 billion lei from the domestic market last year.

The Romanian budget deficit set for 2011 and agreed as part of the financial agreement with the IMF and the European Union stands at 23.953 billion lei.

Sursa: http://www.actmedia.eu

Tags: banks romanian

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