USD bond issue on US market, resumed

Romania resumed yesterday its ten-year USD bond emission on the US market with a 6.75 pc-coupon, announcing an estimative yield of 6.5 pc, Mediafax reports. By order of the Public Finance Ministry, the indicative value was set at USD 500 M to 1bln. In late January Romania issued USD 1.5bln-worth of ten-year bonds, at a yield of 6.875 pc. After a 16 years’ absence from the American market, Romania needed two road shows to persuade USD investors that it had already adopted the belt-tightening measures that other European countries are barely beginning to discuss.

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