“It’s common practice for the ministry to request government’s authorization to issue bonds on foreign markets, so that it may be free to tap debt markets whenever the conditions are right,” Deputy Finance Minister Enache Jiru told Mediafax.
“We could launch a bond issue by the end of the year, depending on market conditions,” he said.
The planned eurobond will mature in seven years or more, according to a ministry memorandum.
So far in 2012, Romania sold $2.25 billion in US dollar-denominated bonds at two debt sales on American markets and another EUR750 million via a tap of its 6.5% June 2018-dated eurobond at an annual yield of 5.15%.
In the local market, the authorities raised EUR421.5 million via a tap of an existing foreign currency bond due 2015 and RON46.4 billion from selling leu-denominated state notes.