Romania borrows EUR 1.5 bln from international markets at record low costs

Romania’s Finance Ministry has drawn EUR 1.5 billion from international markets with an issue of state bonds denominated in euro. The bonds have a 10-year maturity and the yield on these bonds, which reflects the borrowing costs for the state, is 2.97%, which is a new all-time low, according to Mediafax newswire. HSBC, Societe Generale, Raiffeisen and UniCredit arranged the bond issue for the state. Romania initially planned to draw between EUR 1 billion and EUR 1.5 billion. The order book, which reflects total demand from investors, exceeded EUR 4 billion. Romania’s previous bond issue on international markets was in April this year, when the state drew EUR 1.25 billion from investors for a yield of 3.7%. editor@romania-insider.com