Ministry of Finance planning to borrow over RON 6.2 billion from banks in February 2024

The Ministry of Finance (MF) is planning to raise this February RON 5.5 billion from commercial banks, to which another RON 705 million may be added through additional non-competitive bidding sessions related to bond auctions.

The total amount of RON 6.205 billion is RON 115 million less than the RON 6.32 billion scheduled in January 2024 and will be used to refinance public debt and finance the state budget deficit.

According to the prospectus published in the Official Journal, on February 1 an auction was held for a discount T-bill issue worth RON 300 million, maturing on August 21, 2024, and on February 5 an auction will be held for an issue of RON 500 million, maturing on January 29, 2025.

Ten benchmark bond issues worth a total of RON 4.7 billion will be launched in February 2024, followed the next day by a additional non-competitive bidding session for 15 percent of the initial value of the bonds (RON 705 million in total).

Thus, auctions were scheduled for: a RON 600 million bond issue on February 1, 2024, seven RON 500 million issues on February 5, February 8 (two), February 12, February 15, February 19 and February 29, a RON 400 million issue on February 26 and a RON 200 million issue on February 22, 2024.

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