Romania reopens euro-denominated bond issues

Romania has reopened the euro-denominated international bond issues launched in October last year, according to the consortium of banks Citigroup, HSBC, Raiffeisen Bank International and UniCredit which manage the placement. The bonds are due in 2025 and 2035, reports Reuters. In October 2015, Romania sold ten-year bonds of EUR 1.25 billion and 20-year bonds of EUR 750 million. The market demand exceeded EUR 5.5 billion, and most offers targeted the ten-year titles. The yield on the euro-denominated bonds due in 2025 was 2.65% whereas the yield for the 20-year bonds was 3.95%. Romania plans to sell some EUR 11.2 billion worth of bonds on the local market and attract EUR 3 billion from the international markets this year. The country has a ''Baa3'' rating from Moody's and a 'BBB minus'' rating from Standard & Poor's and Fitch. editor@romania-insider.com