The Public Finance Ministry on Thursday placed an issue of government benchmark bonds with three -and-a-half-years maturity and drew 50.49 million lei from the market at an average yield of 11.45 percent per annum, according to information supplied by the National Bank of Romania.
The ministry rejected the purchasing offers put by the commercial banks for the benchmark bond issue that were above the 11.5 percent yield it required.
The government bond issue totaled 250 million lei, with the coupon rate standing at 11.25 percent.The banks' offer stood at a combined 359.28 million lei. The par value of a benchmark bond is 10,000 lei.
As many as 12 primary dealers submitted purchasing offers as follows: ABN Amro Bank, Alpha Bank Romania , BRD – Groupe Societe Generale, Banca Comerciala Romana (BCR), Banca Transilvania, Bancpost , Citibank Romania , CEC Savings Bank, ING, MKB Romexterra, Raiffeisen Bank and UniCredit Tiriac Bank. (1 euro=4.29 lei).
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