Romania starts new bonds issuance in the US, after raising USD 1.5 bln in January

Romania re-opened the ten-year bond issuance on the US market, after raising USD 1.5 billion from bonds issued at the end of January, with a 6.8 percent yield. The new issuance has a yield of 6.5 percent. The total value of the issuance will be between USD 500 million and USD 1 billion. Citigroup, Deutsche Bank and HSBC are lead managers.

The previous bond issuance for the US market was met with high demand from investors, who oversubscribed, submitting offers of USD 7 billion. The country issued the bonds under the medium-term note program valued at EUR 7 billion. The Finance Ministry sold its first bonds under the program in June 2011 when it raised EUR 1.5 billion through five-year bonds. Romania was hoping to raise around EUR 2.5 billion in bonds on foreign markets this year. The country has organized two roadshows in the US prior to the first bonds issuance. editor@romania-insider.com