Finance Ministry raises RON 470 ml in government stock

The Ministry of Public Finance (MFP) on Thursday raised about RON 469.8 million (some 110.54 million euros) in an issue of discount treasury bills auctioned through the National Bank of Romania.

The nine-month bills sold for an average yield of 6.99 pct. The weighted median discount rate was 6.64 pct. The total amount of the issue was RON 750 mln and the total bid by the 13 banks participating in the auction was RON 1.311 bĘ but MFP turned down the bids for ask yields higher than 7 pct.

A number of 13 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, MKB Romexterra, Raiffeisen Bank, RBS Bank Romania and UniCredit Tiriac Bank.

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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