Romania issues 7-year EUR 1.5bn Eurobond

By bne IntelliNews September 13, 2013

Romania has issued a EUR 1.5bn Eurobond with a maturity of seven years, yielding 4.769%, the country’s finance ministry said on its webpage.

The yield was set at 295bps above midswap – 75bps down from Romania’s latest euro-denominated Eurobond placed in October 2012, the ministry said. The issue was abundantly oversubscribed as banks placed orders for EUR 6.4bn. It was managed by Citibank, HSBC, Societe Generale and Deutsche Bank.

Earlier this year, Romania has also borrowed USD 1.5bn under a bond issued on the foreign markets at a yield of 4.625%.

Romania’s Treasury is re-financing its external public debt that accounted to 57% of the total public debt [EUR 30bn, or 21% of GDP] at the end of May. The total public debt was 37% of GDP at end-May – or EUR 52.6bn. But the Treasury also replenishes the country’s forex reserves that are depleting as Romania is paying back its EUR 20bn borrowed from IFIs in 2009-2011. Overall, the country is paying EUR 5bn under the said financial package to the IMF and the EU this year.

The Treasury has to pay EUR 1bn this year only on the account of the money borrowed from the IFIs as part of the EUR 20bn financial package. The central bank has to return EUR 4bn to the IMF under the same financial package – which has an important impact on the country’s foreign currency reserves.

Related Articles

IMF recommends fiscal consolidation for Romania

The International Monetary Fund (IMF) has estimated that the fiscal policies envisaged by Romania will result in a wide deviation (of over 2% of GDP) from the optimum 1.5% of GDP medium-term budget ... more

Owner of Romania’s Dedeman reportedly close to signing largest ever deal in the Romanian office segment

Dragos Paval, owner of Romania’s biggest DIY retailer Dedeman, is reportedly close to signing an agreement with Africa Israel Investments for the acquisition of an office building project in ... more

RBI doubles net profit y/y in Q1 as Russian business recovers

Raiffeisen Bank International (RBI), the second largest bank operating across Central and Eastern Europe by assets, reported that net profit almost doubled year-on-year to €220mn in the first ... more

Register here to continue reading this article and 2 more for free or purchase 12 months full website access including the bne Magazine for just $119/year.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

To continue viewing our content you need to complete the registration process.

Please look for an email that was sent to with the subject line "Confirmation bne IntelliNews access". This email will have instructions on how to complete registration process. Please check in your "Junk" folder in case this communication was misdirected in your email system.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

If you have any questions please contact us at sales@intellinews.com

Subscribe to bne IntelliNews website and magazine

Subscribe to bne IntelliNews website and monthly magazine, the leading source of business, economic and financial news and commentary in emerging markets.

Your subscription includes:
  • Full access to the bne content daily news and features on the website
  • Newsletters direct to your mailbox
  • Print and digital subscription to the monthly bne magazine
  • Digital subscription to the weekly bne newspaper

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

bne IntelliNews
$119 per year

All prices are in US dollars net of applicable taxes.

If you have any questions please contact us at sales@intellinews.com

Register for free to read bne IntelliNews Magazine. You'll receive a free digital subscription.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

IntelliNews Pro offers daily news updates delivered to your inbox and in-depth data reports.
Get the emerging markets newswire that financial professionals trust.

"No day starts for my team without IntelliNews Pro" — UBS

Thank-you for requesting an IntelliNews Pro trial. Our team will be in contact with you shortly.

Dismiss