Romania raises EUR 500 mln from bond issue

The Ministry of Finance said on Monday Romania raised another EUR 500 million at a new fresh low yield for euro-denominated bonds with a seven-year maturity after reopening the bond issue from September.

The bonds yielded at 4.15, down from the initial auction in September 12, when the government raised EUR 1.5 billion at a yield of 4.76 percent.

“The spread has improved by close to 70 basis points, also due to the signing of a new agreement with the IMF and the European Commission and by remaining within the deficit targets and economic growth forecasts,” commented Liviu Voinea, delegate minister for budget, quoted by Mediafax newswire.

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The ministry said the offer was oversubscribed five fold on the back of a “diversified” demand for the bonds.

Ovidiu Posirca