Romanian FinMin borrows EUR 1 bln on external markets

Romania’s Finance Ministry sold yesterday EUR 1 billion eurobonds with a ten-year maturity on external markets. The yield was 2.11%, the total demand being more than 2.7 times higher than the offer. The issue has enjoyed high interest from investors and the yield is the lowest ever recorded by the state for this maturity, according to State Treasury head Stefan Nanu, reports local Profit.ro. The demand has quickly risen to over EUR 2 billion in the first three and a half hours after the launch. The investors came from Romania (18%), UK (17%), Central and Eastern Europe (17%), Germany and Austria (14%), France and Benelux (10% %), Switzerland (5%), USA (4%), Scandinavia (3%) and other countries (6%). This is Romania’s second bond issuance on external markets this year, after the one in April. The Finance Ministry then attracted EUR 1.75 billion via a two-tranche euro-denominated bond issuance. The first one was a new issuance worth EUR 1 billion, with a ten-year maturity and a 2.37% coupon. The second, worth EUR 750 million, had a maturity of 20 years and a coupon of 3.87%. editor@romania-insider.com