Romania raises EUR 500 mln in domestic bond sale

Newsroom 24/02/2016 | 18:00

The Romanian Ministry of Finance borrowed EUR 500 million through a bond issuance with five-year maturity, at an average accepted yield of 1.0 percent, a new record minimum for foreign currency loans on the internal market, according to Mediafax and Reuters.

Demand was more than twice higher than sum planned to be borrowed initially, according to the February prospectus published by the Ministry of Finance, as cited by Mediafax, with banks putting forth EUR 1.07 billion, but in the end, the Romanian state attracted only the EUR 500 million sum.

The National Bank of Romania lowered minimum reserve requirements for commercial banks’ liabilities in foreign currencies in January, thus freeing up cash in the market.

In total since the beginning of the year, the finance ministry has sold approximately RON 10 billion worth of domestic debt and tapped EUR 1.25 billion from foreign markets, says Reuters.

Andreea Tint

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