Romania's Finance Ministry managed to raise around EUR 400 million through state bonds at an average yield of 6.55 percent a year, according to a statement from the country's Central Bank (BNR). The bid's target value was EUR 300 million, but banks oversubscribed to the tune of EUR 550 million to give a total of EUR 850 million's worth of offered bids.

This recent treasury bond issue has a 12-month deadline and comes soon after the state raised EUR 328 million in a discount treasury bond sale on December 12.

Romania hopes to raise EUR 1 billion this month, to finance the budget deficit and refinance its public debt.

editor@romania-insider.com