Fin Min sold bonds worth RON 339.87 M

The Public Finance Ministry (MFP) sold yesterday state benchmark bonds with five-year maturity of RON 339.87 M, through the reopening of an emission from February 2008. The value of the sold titles is smaller than the scheduled value of the auction, of RON 500 M. The level of the demand of titles from the commercial banks was RON 1.62 bln, while the maximum yield accepted by MFP was 7.7 per cent per year, Mediafax informs.

The titles sold on Thursday were issued in February 2008, and have maturity in March 2013. The most recent auction for such titles took place on January 7, when MFP sold bonds of 565 M with an average yield of 9.50 per cent per year. MFP scheduled for February six auctions through which it intends to sell state titles in the amount of RON 3 bln, this being the smallest monthly value announced from November 2008. The total amount that MFP wants to borrow in Q1 from the internal market rises to RON 10-12 bln.

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