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Nov 01, 2007 10:55 EEST
November 1 (SeeNews) - Romania's Finance and Economy Ministry plans to issue 1.6 billion lei ($698 million/484 million euro) worth of government securities in November to finance and refinance the public debt, ministry data showed.
In November the ministry will auction 600 million lei worth of benchmark T-notes which mature in three and 10 years, it said on its web site.
The auction of three-year T-notes worth 300 million lei is scheduled for Thursday, and that of 10-year securities will be held on November 15.
The ministry will also issue 500 million lei worth of six-month and 12-month discount T-bills in November. The auction of 500 million lei in 12-month T-bills is scheduled for November 7, and that of six-month T-bills for November 21.
Romania's Finance and Economy Ministry has said it plans to issue 4.2 billion lei worth of government securities in the fourth quarter of 2007 to finance and refinance public debt. It auctioned 800 million lei worth of securities in October but rejected all bids at the four auctions held last month.
The ministry has sold government securities worth some 8.3 billion lei at the auctions held by the central bank so far this year.
European Union newcomer Romania liberalised its capital market last year, allowing foreign nationals to buy its government securities. The country set a ceiling of 4.4 billion euro ($6.3 billion) for the government's foreign borrowing in the current year and a domestic borrowing ceiling of 19 billion lei.
Romania joined the EU in January.
(1 euro = 3.3084 Romanian lei)
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