Romania Insider

Romania raises USD 3.3 bln with US dollar-denominated Eurobonds

Romania's Finance Ministry drew USD 3.3 billion from the international markets on Tuesday, July 7, selling Eurobonds denominated in US dollars with maturities of 10 and 30 years.

The investors placed orders totaling USD 7.3 billion.

The Finance Ministry sold 10-year bonds worth USD 1.3 billion and 30-year bonds worth USD 2 billion, Ziarul Financiar reported. The 10-year bonds pay a yearly coupon of 240 basis points over the mid-swap level while the 30-year bonds offer a fixed coupon of 4% per year. The orders received from investors totaled USD 2.9 bln for the 10-year tranche and USD 4.4 bln for the 30-year tranche, according to Bloomberg data.

This is Romania's first international bond issue after S&P confirmed the country's rating (BBB-) in May. The Finance Ministry also drew money from the international markets in early May, though Eurobonds denominated in euro.

The last time Romania issued Eurobonds in US dollars was in June 2018 when it raised USD 1.2 bln in a 30-year bond with a 5.125% coupon and a 5.2% yield (210bp above mid-swap). 

[email protected]

(Photo source: Pixabay.com)

Normal
Romania Insider

Romania raises USD 3.3 bln with US dollar-denominated Eurobonds

Romania's Finance Ministry drew USD 3.3 billion from the international markets on Tuesday, July 7, selling Eurobonds denominated in US dollars with maturities of 10 and 30 years.

The investors placed orders totaling USD 7.3 billion.

The Finance Ministry sold 10-year bonds worth USD 1.3 billion and 30-year bonds worth USD 2 billion, Ziarul Financiar reported. The 10-year bonds pay a yearly coupon of 240 basis points over the mid-swap level while the 30-year bonds offer a fixed coupon of 4% per year. The orders received from investors totaled USD 2.9 bln for the 10-year tranche and USD 4.4 bln for the 30-year tranche, according to Bloomberg data.

This is Romania's first international bond issue after S&P confirmed the country's rating (BBB-) in May. The Finance Ministry also drew money from the international markets in early May, though Eurobonds denominated in euro.

The last time Romania issued Eurobonds in US dollars was in June 2018 when it raised USD 1.2 bln in a 30-year bond with a 5.125% coupon and a 5.2% yield (210bp above mid-swap). 

[email protected]

(Photo source: Pixabay.com)

Normal
 

Help us improve Romania Insider for you