Romania’s Finance Ministry sold on Thursday ( December 8 ) benchmark bonds of around EUR 171 million, at an average yield of 7.15 percent a year, according to the Romanian Central Bank (BNR). The bonds have a 22-month deadline.

The initial value for the bid was EUR 161 million, but banks placed purchase offers of EUR 437 million.

The Romanian Finance Ministry plans to raise over EUR 1 billion through bond sales in December in order to cover the budget deficit and finance the public debt.

Irina Popescu, irina.popescu@romania-insider.com

(photo source: Sxc.hu)