Romania to issue at least EUR 1bn in Eurobonds by end-2013

By bne IntelliNews September 6, 2013

Romania plans to issue two Eurobonds with a total value of at least EUR 1bn by end-2013 after it already drained USD 1.5bn earlier in the year in similar issues, budget minister Liviu Voinea told Bloomberg.

Overall, the country plans to borrow from abroad the equivalent of EUR 2.5bn [1.8% of GDP] this year to finance its 2.3%-of-GDP budget deficit*.

There is no pressure and the government will wait for a window of opportunity, Voinea commented.

The new issues will predictably be launched after the IMF’s Board endorses the new stand-by arrangement with the country. The Board will discuss the SBA with Romania for 10 days in September, Voinea said.

The EU would later endorse the BoP support programme for Romania on October 5, he added. The yield on Romania’s 2019 Eurobonds rose to 4.16% earlier this week from a record low of 3.4% in May, Bloomberg reported.

Romania expects a total of EUR 4bn from the IMF and the EU, equally split. Nonetheless, the credit lines attached to the programmes would be treated as precautionary, as it happened in the past two-year programme.

* cash-based

Related Articles

Over 20,000 rally in Bucharest against plans to amend criminal legislation

More than 20,000 Romanians rallied on January 22 against the government’s plans to pardon some convicts and amend criminal legislation through emergency ordinances. The protest was attended by ... more

Romanian software producer Bitdefender takes over French peer Profil Technology

Romanian security technology company Bitdefender has acquired its French peer Profil Technology as part of its expansion strategy on the corporate segment.  The terms of the deal were not ... more

Czech CPI buys huge Central European retail portfolio

Czech real estate investor CPI Group has bought a large portfolio of Central European retail assets, local media reported on January 17. The investor, which has grown its holdings rapidly since ... 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