BUCHAREST (Romania), December 2 (SeeNews) - Romania plans to issue 3.4 billion lei ($1.1 billion/898 million euro) worth of government securities in December to finance and re-finance public debt, the Finance Ministry said on Tuesday.
The ministry will auction 600 million lei worth of benchmark T-notes with maturity of three and five years, it said in a statement. An auction of five-year Treasury notes worth 300 million lei in par value is scheduled for December 4, and an auction of three-year T-notes worth 300 million lei will be held on December 18.
The ministry will also issue 2.8 billion lei worth of three-month, six-month and 12-month discount Treasury bills this month. The auction of 1.0 billion lei in three-month T-bills is scheduled for December 3, and that of 1.0 billion lei in six-month T-bills for December 10. The auction of 800 million lei in 12-month T-bills is scheduled for December 22
The ministry said earlier it planned to issue 11 billion lei worth of government securities in 2008, including 7.0 billion lei in the fourth quarter alone. Romania's central bank has auctioned government securities worth 10.4 billion lei on behalf of the finance ministry so far this year after selling 8.7 billion lei worth of government paper in 2007.
Romania liberalised its capital market in 2006, giving foreign nationals free access to its government securities. The country joined the European Union in January last year.
(1 euro = 3.7857 Romanian lei)
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