Romania's Finance Ministry sells 6-month certificates of 2.76bn lei at average yield of 11.50%

Publish date: 14-04-2009
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Romania's Public Finance Ministry (MFP) sold six-month discount treasury certificates worth 2.759 billion lei at an annual average yield of 11.50 percent, slightly above the one at the last similar bid, the central lender announced.

MFP collected 38 percent above the initial sum of 2 billion lei. Lenders filed buying offers worth 4.07 billion lei.

At the last previous bid on March 16, MFP sold discount treasury certificates maturing in six months of 2 billion lei, twice the initially announced value, at an average yield of 11.49 percent per year.

MFP planned to issue this month state securities of over 7 billion lei to finance and refinance the public debt after collecting more than 20.2 billion lei in the first three months this year.

The government gauges the budget deficit at 4.6 percent of the gross domestic product this year.

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