Finance Ministry raises RON 103 ml in government bonds

The Ministry of Public Finance (MFP) on Thursday raised about RON 103 million (some 24.235 million euros) in an issue of ten-year government bonds worth a total of RON 400 million and carrying a coupon of 6.75 percent.

The total bid by the 12 banks participating in the auction was in excess of RON 603 million. A number of 12 primary dealers placed bids at the auction: Alpha Bank Romania, BRD – Groupe Societe Generale, Banca Comerciala Carpatica (BCC), Banca Comerciala Romana (BCR), Banca Transilvania, Bancpost, CEC Bank, Citibank Romania, ING, Raiffeisen Bank, RBS Bank Romania and UniCredit Tiriac Bank.

The stock sold for an average yield of 7.10 pct; the nominal sold amount was RON 103 million and the gross value was RON 101.92 million. MFP intends to raise in July RON 4.65 bln (more than 1 bln euros) in seven issues of treasury bills and government bonds. In H1 2010 the Finance Ministry drew over RON 20.7 billion from the domestic market, after having raised almost RON 65 bln in 2009.

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