Fitch Ratings awarded BB+ to the Eurobonds issue that expires every five years, worth of one billion euros. It was launched on Thursday evening, March 11, by the Romanian state, a financial evaluation agency report shows. This rating is similar to that Romania received for long term foreign currency debt.
On February 2 Fitch Ratings improved Romania's rating from "negative" to "stable" and confirmed BB+ and BB- for long term debts in foreign and national currencies. At the same time, the agency confirmed the country limit and the rating for short term debt in foreign currency to BBB and B, respectively.
On March 11 Romania launched a Eurobonds issue worth of one billion euros, with a five-year maturity and a 5% coupon. The issue was oversubscribed approximately five times: the first was paid above the index of the market (mid-swap), amounting to 268 base points at the five-year maturity.
"The final read 4.9 bln Euros, almost five times the issue's value. The 5% coupon is an absolute record for Romania and a good price for regional issues. The total paid outturn is 5.17% per year, Public Finance Ministry state secretary Bogdan Dragoi said.
Romania's Eurobonds issue has been carried out by Deutsche Bank AG, EFG Eurobank and HSBC Holdings Plc. Fitch Ratings awarded BB+ to the Eurobonds issue that expires every five years, worth of one billion euros. It was launched on Thursday evening, March 11, by the Romanian state, a financial evaluation agency report shows. This rating is similar to that Romania received for long term foreign currency debt.
On February 2 Fitch Ratings improved Romania's rating from "negative" to "stable" and confirmed BB+ and BB- for long term debts in foreign and national currencies. At the same time, the agency confirmed the country limit and the rating for short term debt in foreign curre
