Gov't intending to borrow over 4.4bn lei in June

The Finance Ministry (MF) has planned to borrow 3.9 billion lei in June 2022 off commercial banks, of which 200 million lei in an issue of treasury bills at a discount and 3.7 billion lei in nine issues of government bonds, Agerpres reports.

Adding to them is 555 million lei in additional sessions of non-competitive bids related to bond auctions.

The total amount of 4.455 billion lei is 1.725 billion lei over the 2.73 billion lei scheduled for May and will be used to refinance public debt and finance the government deficit.

According to the prospectus published in the Official Journal, MF has scheduled for June 9 an auction for an issue of T-bills at a discount worth 200 million lei maturing on May 29, 2023.

Also in June, nine benchmark bond issues will be released of a total value of 3.7 billion lei, followed by an additional session of non-competitive bids of a value that is 15% of the value of the bond issue (555 million lei in total).

Thus, for the sixth month of the year, four issues of 500 million lei are scheduled, on June 2, 6, 20 and 27, two of 400 million lei on June 9 and 16 and three issues of 300 million lei on June 2, 6 and 23.