Ministry of Finance raises 1.486 billion lei through bond issues

The Ministry of Finance has managed to raise 1.486 billion lei through two government bond issues.  The first issue was for 760.4 million lei, with a residual maturity of 77 months and an average yield of 6.72% per year. The nominal value was 400 million lei and banks subscribed 940.4 million lei.

The second issue was 726.5 million lei, with a maturity of 59 months and an average yield of 6.68% per annum. The nominal value was the same, 400 million lei, and the banks subscribed 976.5 million lei. On Tuesday, an additional auction is planned to attract another 60 million lei at the yield set on Monday, Agerpres reports.

The Ministry of Finance plans to borrow 4 billion lei from commercial banks by December 2023, with the possibility of adding 525 million lei through additional non-competitive bidding sessions related to bond auctions. This amount is 1.15 billion lei less than the initial October plan and will be used to refinance public debt and finance the state budget deficit.