BUSINESS

Finance Ministry selects eight banks for bond emission of EUR 7 bln

Societe Generale, UniCredit, Barclays, BNP Paribas, Citigroup, Deutsche Bank, Erste and HSBC were selected dealers of the bonds emission that is part of the framework medium-term financing programme worth EUR 7 bln, Bogdan Dragoi, Secretary of State within the Ministry of Public Finances (MFP) stated, Mediafax informs. In an interview for ‘Bloomberg,’ Dragoi reiterated the plan to sell bonds on international markets by the end of the year.

In mid-2010 the government approved a Medium Term Notes bond emission programme on the international market on a three-year period with an upper threshold of EUR 7 bln. Through the first emission of the programme, the MFP drew EUR 1.5 bln in early June by selling five-year bonds at a return of 5.29 per cent.

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