The Eurobond issue volume estimated for 2025 at the moment stands at EUR8.5 billion. The (euro and dollar denominated) bonds issued and not repaid through the MTN program currently stand at some EUR65.5 billion, and the available amount for Eurobond issues is about EUR2.5 billion.
Given its annual plan to fund the budget deficit and refinance the public debt set for 2024, the Finance Ministry estimates a Eurobond volume of some EUR8.5 billion to EUR9.5 billion (equivalent), with a EUR7.9 billion equivalent already covered through the issues conducted in the first part of 2024. Two Eurobond issues worth EUR1.5 billion will fall due on October 28, 2024. The Finance Ministry says that the financing plan for 2024 was built around collecting two tranches of a loan via the NRRP estimated at EUR2 billion, which it has not received so far.
The Finance Ministry wants the MTN cap raised by EUR7 billion to cover an estimated issue schedule of EUR10.5 billion for 2024 and estimated EUR8.5 billion 2025 schedule.
(English version by Loredana Fratila-Cristescu)