FinMin sells 621.5M lei worth of T-bonds

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The Public Finance Ministry drew more than 621.5 million lei (1 euro=4.24 lei) by a discount T-bonds issue put to auction on Monday via the National Bank of Romania.

The T-bonds have six-month maturity and the average yield is 10 percent. The total value of the issue was one billion lei, with the combined demand of the 13 banks that took part in the auction standing at 1.61 billion le i; the ministry rejected the offers of the banks that exceeded the 10 percent yield.

The bidders included 13 primary dealers – Alpha Bank Romania, BRD – Groupe Societe Generale, Banca Comerciala Carpatica (BCC), Banca Comerciala Romana (BCR), Banca Transilvania, Bancpost, CEC Bank, Citibank Romania, ING, MKB Romexterra, Raiffeisen Bank, RBS Bank Romania and UniCredit Tiriac Bank.

The finance ministry has scheduled auctions in December for government bonds worth 4.8 billion le i, after having drawn some 1.72 billion lei from the market in November. The ministry drew roughly 59.7 billion lei from the market in the 11 months of this year, up from 12.5 billion lei in the full-2008.

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