“It’s likely we will issue a new bond on the foreign markets to meet our target of EUR2.5 billion,” Dragoi told reporters.
He said the new issue will be launched in the second half of the year.
In January, Romania sold $1.5 billion in 10-year bonds on the US market at an annual yield of 6.875%. The issue drew around $7 billion in orders from investors and the ministry Tuesday reopened the bond for another $750 million, bringing the total value to $2.25 billion (roughly EUR1.7 billion)
The reopening of the 2022 bond attracted $3.2 billion in orders and sold at 6.45% average yield, below the initial guidance of 6.5%. The issue carries a coupon of 6.75%.
Citibank, Deutsche Bank and HSBC were lead-managers on the deal.