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MFP borrowed 730 million lei from banks, more than the double of what had been programmed
The minister of public finances (MFP) borrowed on Monday 730.4 million lei from banks, more than the double of what they had programed, in an emission of state bonds for six years, at an average yield of 3.14% per year.
The nominal value of the issuance was 300 million lei, but the banks sent offers of a total sum of 933.6 million lei.
On Tuesday there will take place a supplementary bid through which the state wants to draw another 45 million lei at the yield established on Monday.
MFP planned loans of 3.415 billion lei from banks in January 2017 out of which 3.1billion lei through seven bids of bonds and 315 million lei through supplementary sessions of non-competitive offers, connected to bonds bids.
The sums will be destined to refinancing of the public debt and the financing of the state budget deficit.
According to the emission prospects MFP will organise in January two bids of bonds with discount, worth 500 million lei each, on 9 and 19 January.
At the same time, there will be organised five bids of benchmark bonds with a total value of 2.1 billion lei each, each being followed, the next day, by a supplementary session of non-competitive offers, with a worth of 15% of the initial value of the bonds issuance.