More than 1.33 bln lei attracted, following T bills issue

Ministry of Public Finance (MFP) attracted on Monday more than 1.33 billion lei following an issue of discount T-bills, placed on auction through Romania’s National Bank (BNR).

The T-bills have one year maturity, May 4, 2011 and the average profitability rate, when they were adjudicated, stood at 6.29 percent. The average level of discount rate stood at 5.91 percent. Total issue value is 1.5 billion lei and total demand from the 13 banks participating in the auction was 2.54 billion lei. MFP wants to attract in May 4.5 billion lei through T bills issuance and government bonds, according to data published on MFP site.

In the first four months of 2010, MFP borrowed from the domestic market some 17 billion lei after, in 2009, it attracted almost 65 billion lei. In Feb., Romania was transferred two IMF tranches in value of 2.45 billion euros and in March another tranche of one billion euros from the European Commission. At the same time, MFP borrowed one billion euros from the foreign capital market, following an Euro bonds issue.

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