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The programme for bonds ‘ Medium Term Notes’ would be increased at two billion euro
The programme for bonds ‘ Medium Term Notes’ will be extended with two billion euro from 18 billion euro to 20 billion euro to cover the needs for financing on the foreign markets for the period 2016 – 2017.
The programme for state bonds ‘ Medium Term Notes’ ( the MTN programme)is a non-committing facility signed between the ministry of public finances as issuer and a group of selected financing institutions.
In the context of the implementation of the annual plan for financing of the budgetary deficit and refinancing of the public debt for 2016 the ministry of public finances has in mind the issuing of the Eurobonds worth approximately 3 billion euro (the equivalent).
‘Until now, there were issued on foreign markets Eurobonds of 1.25 billion euro. Between 1.75 – 2 billion euro will draw from the foreign markets until the end of this year. After the payment of the 1.5 billion euro, the countervalue of the Eurobonds with maturity in June 2016, the disposable value from then MTN programme with the possibility of issuing the Eurobonds will be 3.2 billion euro .At present for 2017 there is estimated a necessary for financing from the foreign markets between 2.7 billion euro and 3 billion euro. In conclusion, to cover the needs for financing from the foreign markets for 2016 – 2017 it is necessary to increase the value of the MTN programme with approximately 2 billion euro’ the MFP press release says.