Romania’s Finance Ministry borrowed yesterday RON 1 billion (EUR 221 million) through a treasury bill issue with a maturity of six months at a record low yield of 0.48% per year.

The yield is less than half of the previous minimum obtained for a similar bond issue in October 2015. The yield was 0.98% per year then.

The banks subscribed yesterday EUR 746 million, three and a half times more than the Finance Ministry requested, reports local Economica.net.

The Finance Ministry planned to borrow over EUR 1 billion from commercial banks in January.

The Ministry wants to issue EUR 10.5-11 billion bonds in the internal market this year. It also plans to sell some EUR 3 billion worth of Eurobonds. Most of the money will be used to repay previous bond issues that reach their maturities this year.

editor@romania-insider.com