Romania's Finance Ministry gets EUR 1.31bn from the market, with an average yield of 4.8%

Publish date: Astazi, 29-11-2010
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Romania's Finance Ministry gets EUR 1.31bn from the market, with an average yield of 4.8%

The Public Finance Ministry (MFP) sold state bonds maturing in three years worth 1.31 billion euros on Thursday, at an average yield of 4.8 percent and a coupon rate of 4.5 percent, according to the central lender BNR.

The announced value of the bid was of 1 billion euros. Banks' offers amounted to over 2.05 billion euros.

The governor of the central lender, Mugur Isarescu, said earlier today that MFP would better pay on time its old loan, that is maturing next week, because there is enough money, and get another loan afterwards.

Romania has to return a credit of 1.4 billion euros on November 29.

President Traian Basescu declared on November 18 that the proof which will demonstrate the efficiency of the measures completed by the government will surface at the end of the month, when Romania will try to obtain an external loan.

"If we succeed to take this loan of 1 billion euros with an interest below 5 percent, than Romania got back its credibility", the chief of state said last week.

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