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November 30, 2021

Fitch rates Romania’s USD 1.5 bln debt ‘BBB-’

Fitch Ratings has assigned Romania’s USD 1.5 bn bond, due 22 August 2023, a ‘BBB-’ rating, a press release informs. The bond has a coupon of 4.375 pc. The rating is in line with Romania’s ‘BBB-’Long-term foreign currency Issuer Default Rating (IDR), on which the Outlook is Stable.Romania attracted USD 1.5 bln through an issue of 10-year bonds on foreign markets, with a yield of 4.5 pc, under the indicative value of 4.625 pc, and the offer exceed five times the available sum.The oversubscription made the first deputy governor of BNR, Florin Georgescu say Friday in Brasov that the Romanian economy has good signals of growth. “The money offer was five times higher, respectively USD 7.5 bln compared to the demand of the Romanian side, so here are foreign investments coming, money is available throughout the world, it came in the governmental zone and this can lead us to indirect economic growth,” Florin Georgescu mentioned. “Resources are no longer that generous, especially abroad, and the few that are left for us must be used with all efficiency and correctness,” Georgescu added.The gross financing demand of the Ministry of Finance in 2013 is estimated at RON 70 bln (11.3 pc of the GDP), almost same as in 2012 due to the public debt volume that will reach maturity and must be refinanced. The transaction ranges within the medium-term emissions plan of Romania and was intermediated by the banks Barclays, Citibank, HSBC and BNP Paribas.

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