Romania sells EUR 750 million in bonds on foreign markets

Romania attracted EUR 750 million from foreign markets, on September 4, in the reopening of the euro denominated bond sale by the Ministry of Finance. The bonds will mature in June 2018, having a yield of 5.15 percent. "It was a success, I concluded today after the issuance of eurobonds that will bring in EUR 750 million. Basically, this program will increase foreign reserves. The bonds are over 6 years with an interest rate of between 5.1 percent and 5.15 percent, "said Finance Minister Florin Georgescu. The Finance Minister confirmed that the interest rate compared to the same period last year, when bonds sold worth EUR 1.5 billion with a five year maturity and an interest rate of 5.25 percent. The state secretary in the Ministry of Finance, Enache Jiru, said two weeks ago that the institution wants to sell euro-denominated bonds on foreign markets and that he is following the international situation continuously to determine the best time to sell. The Ministry of Finance has this year attracted EUR 8.87 billion to the local market and this amount is added to the USD 2.25 billion borrowed on the U.S. shares market. Ioana Toader, ioana.toader@romania-insider.com (photo source: sxc.hu)