MFP sells T-bills worth in excess of 67 million euros
The Finance Ministry (MFP) on Monday raised RON 283.63 million (nearly 67 million euros) through the sale of a discount Treasury bill issue auctioned by the National Bank of Romania (BNR).
The bills mature in nine months. They were sold for a 7-percent yield, an average weighted discount rate of 6.65 percent. The total value of the issue was RON 800 million, for a demand of RON 1.393 billion from 13 banks, with the MFP having rejected the bids of the banks requesting a yield in excess of 7 percent.
Submitting bids were 12 primary dealers – Alpha Bank Romania, BRD – Groupe Societe Generale, Banca Comerciala Carpatica (BCC), Banca Comerciala Romana (BCR), Banca Transilvnaia, Bancpost, CEC Bank, Citibank Romania, ING, Raiffeisen Bank, RBS Bank Romania and UniCredit Tiriac Bank.
MFP has planned to raise RON 4.65 billion (more than 1 billion euro) in seven issues of Treasury bills and Government bonds. In the first seven months of 2010, the MFP borrowed more than RON 22 billion off the domestic market, compared with nearly RON 65 billion in all in 2009.