Romania’s Public Finance Ministry borrowed yesterday EUR 89.9 million from commercial banks, through an auction of treasury bills, at a discount.

The average yield amounted to 1.39%. Demand from banks was more than triple what the state raised - EUR 281 million.

In May, the Finance Ministry plans to raise some EUR 493 million. It will use it to refinance public debt and finance the state budget deficit.

The Ministry will organize another auction of treasury bills with discount next week, on May 25. It will also hold three auctions of benchmark bonds with maturities of three, five and seven years. These will all be followed by additional sessions.

editor@romania-insider.com