South-African investment fund New Europe Property Investments (NEPI), one of the largest real estate investors in Romania, plans to issue euro-denominated corporate bonds to attract financing.

The fund has commissioned Deutsche Bank, Investec and Raiffeisen Bank International to set up a series of meetings with investors to evaluate their interest in such an issue, the fund said in a note to investors.

This comes after NEPI recently received the Ba1 rating from Moody’s ratings agency, which is one notch below Romania’s sovereign rating - investment grade.

“The rating enables us to explore the possibility of issuing unsecured debt at the group level in order to optimize its funding sources,” NEPI announced on Monday.

Andrei Chirileasa, andrei@romania-insider.com