Finance Ministry turns down banks’ bids for three-year bond issue

The Ministry of Public Finance (MFP) on Thursday fully turned down the commercial banks’ bids for a three-year benchmark bond issue, the National Bank of Romania informs.

The total amount of the issue was RON 300 mln (some 70.59 million euros); MFP considered the ask yield was unacceptable. The banks’ offer totaled RON 557.18 million. The face value of a bond is RON 10,000. A number of 12 banks 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.

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