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March 29, 2023

Reuters: Romania prepares to tap Eurobond market

+ Our country borrowed EUR 2 bln from external markets in 2015

Romania is analyzing the possibility of issuing Eurobonds in the upcoming period and the authorities are considering short-term and “very long-term” maturities, according to Finance Minister Anca Dragu, quoted by Reuters. Romania has a Baa3 rating from Moody’s and a BBB- rating from Standard & Poor’s and Fitch.

Last week, Poland became the first emerging country to tap Eurobond markets this year, borrowing EUR 1.75 bln by selling bonds with 10 and 20-year maturities.

According to Erste Group analyst Juraj Kotian, Poland’s Eurobond issuance opens the way for other issuers in Central and Eastern Europe. “Entering the market at the start of the year was a good decision. Hungary is next, set to return on international markets after two years of absence, and Romania,” Kotian said.

Romania wants to sell government bonds worth approximately RON 50 bln in 2016 and to borrow EUR 3 bln on international markets.

Last year, the total sum borrowed by Romania on external markets stood at EUR 2 bln, being contracted through two bond issuances – EUR 1.25 bln at 10-year maturity and EUR 750 M at 20-year maturity.

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