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Bucharest
May 11, 2021
ECONOMY FINANCE&BANKING

Issuance of EUR-denominated bonds with 12-year maturity

Romania has launched an issuance of EUR-denominated bonds with 12-year maturity, representatives of the consortium of banks (Citigroup, JP Morgan, Raiffeisen Bank International, Societe Generale and UniCredit) that brokers the issuance stated for Reuters. On Thursday, Romania was offering 12-year bonds at a yield of 235 basis points above the reference level (mid-swap), the sources claimed.

Romania has a Baa3 rating from Moody’s, and a BBB- rating from Standard&Poor’s and Fitch.

This year, the Finance Ministry is considering borrowing EUR 4.5 bln from external markets, depending on the developments registered there and the opportunities offered by those markets, bearing in mind the reimbursement level related to the issuance of Eurobonds issued on external markets and due in June 2016 (EUR 1.5 bln) and the need to consolidate the State Treasury’s forex-denominated reserves.

Thus, financing from external sources will be carried out through the MTN programme, by issuing Eurobonds worth approximately EUR 3 bln and by drawing around EUR 1.5 bln from loans contracted from international financial institutions.

 

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