Romania raises €1.25bn upon re-opening 10-yr, 20-yr Eurobonds

By bne IntelliNews February 21, 2016

Romania announced it drained €1.25bn from the international markets upon re-opening the 2025 and 2035 Eurobonds launched last October. The cost of the money decreased to 2.55% for the 10-year maturity and 3.93% for the 20-year maturity, the finance ministry said in a note. Investors have placed orders for €2.3bn of bonds.

Romania's gross financing needs have increased from 8.9% of GDP in 2015 to 9.4% of GDP (RON70bn) in 2016. Of this total, the roll-over of debt maturing during the period will account for 6.8% of GDP this year, down from 7.4% of GDP in 2015.

In October, the country issued €1.25bn of 10-year bonds and €750mn of 20-year bonds. Yields were 2.845% for the 10-year maturity and 3.93% for the 20-year maturity.

Following the re-opening this February, the bonds reached €2bn for the 2025 bond and €1.25bn for the 20-year bond.

The issue was managed by Citigroup Inc., HSBC Bank PLC, Raiffeisen Bank International AG and UniCredit SpA.

Romania plans to issue €3bn worth of Eurobonds this year, and also wants to draw €1.5bn worth of loans from international financial institutions. However, the finance ministry has not yet announced any plans for the first quarter in regard to the volume, maturity or currency of possible Eurobonds.

Separately, Treasury head Stefan Nanu announced that the government will issue five-year bonds denominated in euros, on the local market. The size of the issue has not yet been decided, but it will be “significant”, he implied.

 

Related Articles

EBRD, EIB lend €82mn to Moldova for key gas pipeline toward Romania

The European Bank for Reconstruction and Development (EBRD) and the European Investment Bank (EIB) will lend €41mn each and the European Union will add a €10mn grant to fund a pipeline to link ... more

NEPI, Rockcastle merger to create largest listed real estate player in CEE

South African New Europe Property Investments (NEPI) real estate investment fund, which is active and listed in Romania, announced on December 14 that it has concluded a framework agreement with ... more

Japan’s Asahi buys a huge round in Central Europe

Asahi has beaten a host of regional heavyweights in the race to buy SABMiller’s Central and Eastern European beer brands, the Japanese brewer announced on December 13. The Asian giant said it ... 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