In the Official Gazette with the number 1046 of 28 October 2022, the MF Order no.3958 of 27 October 2022 was published on the prospectus for the issuance of discount treasury certificates and benchmark government bonds for November 2022.
In order to finance the state budget deficit, refinancing and early repayment of public debt in November 2022, the prospectuses for the issuance of discounted treasury certificates and benchmark government bonds are approved, in a total nominal amount of MDL 4,200 million, to which may be added the amount of MDL 585 million from the allocations of additional sessions of non-competitive offers organized exclusively for benchmark instruments, provided for in Annexes no. 1 and 2 which are an integral part of this Order.
The Directorate General for Treasury and Public Debt shall implement the provisions of this Order.
APPENDIX 1: PROSPECTUS OF ISSUANCE of discounted Treasury certificates launched in November 2022
In order to finance the state budget deficit, refinancing and early repayment of public debt in November 2022, the Ministry of Finance announces the launch of an issue of discounted treasury certificates as follows:
Number of days
– Lei –
The individual nominal value of a discounted treasury certificate is 5,000 lei.
The method of sale is by auction and will take place on the date mentioned in the above table, and the auction will be by multiple price method.
The discounted treasury certificates can be purchased by primary dealers, who will submit bids both on their own account and on behalf of their clients, individuals and legal entities.
Purchase offers are competitive and non-competitive.
The competitive bid shall indicate the elements contained in Annex no. 6.1 to the Regulation of the National Bank of Romania no.1/2022 for the application of the Regulation of the National Bank of Romania no.8/2022 on government debt management operations carried out by the Ministry of Finance on the government securities market administered by the National Bank of Romania.
The number of value tranches, at different yield rates, is not restricted.
Non-competitive bids may be submitted by natural and legal persons, except credit institutions, as defined in the Government Emergency Ordinance no. 99/2006 on credit institutions and capital adequacy, approved with amendments and additions by Law no.227/2007, with subsequent amendments and additions, as customers of primary dealers.
The non-competitive tender offer shall indicate the elements contained in Annex no. 5.1 to the Regulation of the National Bank of Romania no.1/2022 for the application of the Regulation of the National Bank of Romania no.8/2022 on government debt management operations carried out by the Ministry of Finance on the government securities market administered by the National Bank of Romania. Non-competitive bids are allowed in a proportion of 25% of the total value of each announced issue. The non-competitive bid submitted by the primary dealer on behalf of a single client may not exceed the value calculated by applying the above-mentioned weighting. Their execution will be carried out at the weighted average yield at which the competitive bids were awarded.
Each transaction of the competitive or non-competitive bid will be of minimum 5.000 lei.