The Finance Ministry placed 1 billion euros' worth of five-year eurobonds at a 5.17% yearly yield on the international market yesterday, an issue analysts deem as "a success" considering subscription demand for almost 5 billion euros.
The annual coupon (the fixed interest) stands at 5% per annum, the lowest cost at which Romania has borrowed from the foreign private market.
After a road show through a number of European financial centres, the subscription took about three hours, and the premium paid above the reference five-year market indicator stood at 2.68 percent.
Deutsche Bank, HSBC and EFG Eurobank were the brokers selected by the Finance Ministry to handle the bond issue.
"I think the bond issue can be considered a success and will relieve financing pressures. The yield is reasonably good. Romania had not borrowed from international markets for a long while and whoever was interested got a good alternative with this issue," commented Radu Craciun, chief investment officer of Eureko Pensii.
The Finance Ministry placed 1 billion euros' worth of five-year eurobonds at a 5.17% yearly yield on the international market yesterday, an issue analysts deem as "a success" considering subscription demand for almost 5 billion euros.
The annual coupon (the fixed interest) stands at 5% per annum, the lowest cost at which Romania has borrowed from the foreign private market.
After a road show through a number of European financial centres, the subscription took about three hours, and the premium paid above the reference five-year market indicator stood at 2.68 percent.
Deutsche Bank, HSBC and EFG Eurobank were the brokers selected by the Finance Ministry to handle the bond issue.
"I think the bond issue can be considered a success and will relieve financing pressures. The yield is reasonably good. Romania had not borrowed from
