5 Ianuarie 2010
Ministry of Finance hopes to raise 4bln lei in T-bill offering
The Finance Ministry hopes to raise 4 billion lei in January in treasury bills issuing scheduled for January through five bidding processes, in order to tackle the country’s public debt and fill the budget gap, in line with the state securities auction calendar.
The Ministry announced the launch of three issuing of T-bills (usually sold at a discount from the par amount) at a face value of 1 bln lei, with 6 or 12 months maturity. The first T-bill offering is scheduled for January 11, the next on January 18 and the last on January 25, 2010.
At the latest T-bills bidding processes that took place in 2009, the return paid by the government to investors has been 10% per year, the ministry refusing to grant higher returns.
The Ministry also plans 2 offerings of treasury notes with 5 and 3-year maturity at a face value of 0.5 billion lei, and a coupon rate of 8.25% and 8% respectively. The first T-notes offering is scheduled for January 7 and the next one on January 21, 2010.
Last year, the Ministry of Finance raised around 65 billion lei in state securities offerings, 5 times more than in 2008.
The Government has committed to contain budget gap in a target range of 5.9% of GDP.
At the latest T-bills bidding processes that took place in 2009, the return paid by the government to investors has been 10% per year, the ministry refusing to grant higher returns.
The Ministry also plans 2 offerings of treasury notes with 5 and 3-year maturity at a face value of 0.5 billion lei, and a coupon rate of 8.25% and 8% respectively. The first T-notes offering is scheduled for January 7 and the next one on January 21, 2010.
Last year, the Ministry of Finance raised around 65 billion lei in state securities offerings, 5 times more than in 2008.
The Government has committed to contain budget gap in a target range of 5.9% of GDP.