Ministry of Finance borrowed more than intended
Yesterday, the Ministry of Finance borrowed approx. RON 500 mn through the issuance of 1-year T-bills, matching the initial intended amount. The average yield stood at 5.51%, slightly lower compared to 5.85% paid at the last similar auction three weeks ago when the Ministry borrowed RON 1.4 bn. Additionally, the Ministry also borrowed RON 737 mn through the issuance of 3-year T-bonds, above the initial intended amount of RON 500 mn. The average yield stood at 5.69%, below the average yield of 5.95% paid at a similar auction in mid-January when it borrowed RON 1.5 bn. The T-bond ISIN issued was announced to be introduced into JP Morgan index hence the increased demand.
Fondul Proprietatea – minor increase in paid share capital
Fondul Proprietatea’s Fund Manager announced that as of 1 February 2013, the paid share capital of the Fund has increased by RON 23,500 to RON 13,412,803,666, while the subscribed share capital of the Fund remained unchanged (at RON 13.78 bn). The increase in the paid share capital is a result of the fact that the Fund received 2,350 shares from Romgaz in amount of RON 23,500, following a share capital increase with the value of the land for which Romgaz obtained property rights, compensated with part of the Fund’s shares unpaid by the Romanian State.As a result of this operation, 23,500 shares were unblocked out of the 365.6 mn shares previously considered unpaid by the Romanian State.
