Profile picture for user andreich
Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

Romania raises EUR 3.5 bln with 12 and 20-year Eurobonds

Romania's Government placed Eurobonds in the amount of EUR 3.5 billion on April 7, in its first issue on international markets this year. In the first tranche with a 12-year maturity, the Government raised EUR 2 bln, while the offers from investors totaled EUR 6 bln, Ziarul Financiar reported.

The yield was set at mid-swap (MS) plus 195bp.

In the 20-year tranche, the Government took EUR 1.5 bln out of the EUR 4 bln offered by the investors.

The yield for this tranche is 235 bp over the mid-swap (MS) level. In both cases, the final yields were set 30bp below the starting points announced initially.

This is the first Eurobond financing in 2021 and the first under the mandate of finance minister Alexandru Nazare.

In 2021, the Romanian Government's gross financing need is approximately RON 130.8 bln (EUR 26 bln, 11.7% of GDP), including the financing of the 7.16% of GDP (some RON 80 bln) budget deficit as well as the maturing debt to be rolled over - approximately RON 51 bln.

In line with the strategies of preventing excessive foreign exchange risk and developing the local government securities market, it is estimated that 48% of the budget deficit will be financed from internal sources, with the rest of 52% funded from external sources.

(Photo: Henning Marquardt/ Dreamstime)

andrei@romania-insider.com

Normal
Profile picture for user andreich
Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

Romania raises EUR 3.5 bln with 12 and 20-year Eurobonds

Romania's Government placed Eurobonds in the amount of EUR 3.5 billion on April 7, in its first issue on international markets this year. In the first tranche with a 12-year maturity, the Government raised EUR 2 bln, while the offers from investors totaled EUR 6 bln, Ziarul Financiar reported.

The yield was set at mid-swap (MS) plus 195bp.

In the 20-year tranche, the Government took EUR 1.5 bln out of the EUR 4 bln offered by the investors.

The yield for this tranche is 235 bp over the mid-swap (MS) level. In both cases, the final yields were set 30bp below the starting points announced initially.

This is the first Eurobond financing in 2021 and the first under the mandate of finance minister Alexandru Nazare.

In 2021, the Romanian Government's gross financing need is approximately RON 130.8 bln (EUR 26 bln, 11.7% of GDP), including the financing of the 7.16% of GDP (some RON 80 bln) budget deficit as well as the maturing debt to be rolled over - approximately RON 51 bln.

In line with the strategies of preventing excessive foreign exchange risk and developing the local government securities market, it is estimated that 48% of the budget deficit will be financed from internal sources, with the rest of 52% funded from external sources.

(Photo: Henning Marquardt/ Dreamstime)

andrei@romania-insider.com

Normal
 

Romania Insider Free Newsletters