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Finance Ministry could not place state bond issue of 600 million lei for 3 years

The Ministry of Public Finance could not place on Thursday the issue of state bonds, worth 600 million lei for three years.

Banks sent offers of 532.07 million lei but the Ministry rejected them.

The state had scheduled an additional session of 90 million lei on Friday, which in these conditions will no longer be held.

MPF planned loans of 4.075 billion lei from commercial banks in March 2017, of which 3.7 billion lei from treasury certificate tenders and state bonds and 375 million lei from additional not competitive offers for bond tenders.

The amounts of money will be used to refinance public dent and finance state budget deficit.

According to issue project, MPF has scheduled in March two tenders for treasury discount certificates, one for 6 months on March 16 and another one fir a year on March 23, worth 600 million each.

Five tenders for benchmark bonds worth 2.5 billion lei will be organized and will be followed by an additional not competitive offer session worth 15% of the initial value of the bond issue.

In March, MPF has also programmed a denominated state bond tender in euros with which it wants to attract 200 million euros in the internal market for 4 years.