The first auction was a reopening of a bond issue due in October 2034 and the Finance Ministry borrowed RON749.6 million, above the planned level of RON500 million, at an annual yield of 8.22%.
Six primary dealers participated in the auction.
Total demand stood at RON964.4 million. The coupon rate was 4.75% and the yield until maturity corresponding to the sale price was 8.19%.
The second auction was a reopening of a bond issue due in February 2025 and the Finance Ministry raised RON535.6 million from banks, at an annual yield of 8.20%.
In August, the finance ministry plans to raise RON5.5 billion from banks, RON1.33 billion above the RON4.25 billion in July. The funds raised will be used to cover the budget deficit and to refinance the country’s public debt.