Romania’s Ministry of Finance (MF) plans to borrow RON 4.6bn under competitive bids and another RON 645mn under non-competitive issues from commercial banks in August.

The total amount of RON 5.25bn is RON 645mn higher than that scheduled in July and will be intended to refinance the public debt and finance the state budget deficit.

According to the prospectus published in the Official Journal, an auction will be organized on August 17 for the issuance of discounted certificates worth RON 300mn, maturing on February 28, 2024. Also, nine benchmark bond issues will be launched during August, with a total value of RON 4.3bn billion, followed the next day by an additional session of non-competitive offers, with a value of 15% of the initial value of the bond issue (RON645mn).

Thus, auctions were scheduled for a bond issue of RON300mn on August 3 and for eight issues of RON 500mn on August 3, August 7, August 10, August 17, August 21, August 24, August 28 and August 31.

(Photo: Alexandru Marinescu/ Dreamstime)

iulian@romania-insider.com