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• The amount that Romania is looking to raise has not been decided yet
The first issue of 5-year Romanian Eurobonds, part of the MTN (Medium Term Notes) program will have a coupon of 5.4%, 0.2 points over the price paid for the issue of 2010, when investor orders exceeded 2 billion Euros.
"The yield was set at the mid-swap (280 basis points - 2.8%) plus a margin of 260 basis points, which means that the final yield will be 5.4%, higher than the one paid a year ago on the 5-year Eurobonds issue", sources in the banking system said. However, government sources said that the amount to be raised from the international markets has not been decided yet. "What matters is that we consolidate our public debt, turning our short term loans into medium and long-term loans", the quoted sources said. They added that "Romania is going through a favorable moment, as it now has credibility on the foreign markets, following the policies of the current government".
In March 2010, Romania borrowed 1 billion Euros from the foreign markets through a 5-year Eurobonds issue, with a coupon of 5% and an annual yield of 5.17%. At the time, the amounts subscribed reached 4.9 billion Euros.
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