Romania's Finance Ministry wants to borrow EUR 620 mln from commercial banks
Romania’s Public Finance Ministry plans to borrow EUR 620 million from commercial banks in June.
It will borrow EUR 563 million through five auctions of treasury bills and bonds and EUR 57 million in additional sessions of non-competitive bidding sessions, related to the bonds auctions, reports local Economica.net.
The Ministry will use the money to refinance public debt and to finance the state budget deficit.
It will organize two auctions of discount treasury bills, worth EUR 90 million each, on June 11 and June 22.
The Ministry will also organize in June six auctions of benchmark bonds with a total value of EUR 382 million, with maturities of three, five, seven and ten years.
In 2015, it plans to borrow from the internal market some EUR 2.2 - 2.7 billion by issuing treasury bills and EUR 5.6 - 6.3 billion by issuing benchmark bonds.
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