Romania to launch first medium term notes issue early next year, letter of intent to IMF writes

Romania's Finance Ministry will launch the first bond issue of its planned EUR 7 billion medium term notes (MTNs) program at the end of 2010 or early 2011, according to the government’s letter of intent that will be sent to the International Monetary Fund. "Our financing strategy will focus on extending the maturity of our domestic debt and consolidating the financial buffers (…). We also plan to launch a euro medium term notes program in late 2010 or early 2011 to maintain our presence on international markets under more flexible issuance procedures," the government said in the letter, according to newswire Mediafax. Romania's most recent international debt sale took place in March, when the country raised EUR 1 billion via a five-year Eurobond that carried a 5 percent coupon. Mediafax