Romania borrowed EUR 2.5 billion through two Eurobond issues with maturities of nine and twenty years on November 24, according to Romania-Insider.com.
The bond issue hadn’t been announced in advance. In an investor presentation last month, the Finance Ministry estimated the volume of Eurobonds planned for this year at EUR 9.3 bln, which matches the combined value of the previous three issues.
On November 24, Romania borrowed EUR 1 bln with a nine-year maturity and EUR 1.5 bln with a 20-year maturity, Profit.ro reported.
The issues were heavily oversubscribed, with investors placing EUR 12 bln worth of orders. The high demand from investors helped the Finance Ministry significantly reduce the borrowing costs compared to the initial estimates – 1.81% for the nine-year bond and around 3% for the 20-year one.
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