Romania sells Eurobonds with 12-year maturity

Romania launched yesterday a euro-denominated bond issue with a 12-year maturity, representatives of the bank consortium that intermediates the issue told Reuters. The consortium includes Citigroup, JP Morgan, Raiffeisen Bank International, Societe Generale, and UniCredit. The yield is 235 basis points over the mid-swap reference level, according to sources. Romania has a 'Baa3'' rating from the rating agency Moody's and a 'BBB minus'' from Standard & Poor's and Fitch, which places the Romanian bonds in the investment grade category. The Finance Ministry wants to attract some EUR 4.5 billion from external markets this year. It will issue Eurobonds of EUR 3 billion and will borrow some EUR 1.5 billion from international financial institutions. The state has to repay a EUR 1.5 billion bond issue that is due next month. editor@romania-insider.com