The reopening of Romania’s 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%.
US investors bought 42% of the bond, followed by investors in the UK (35% of total), other European countries (18%) and Asia (5%), Dragoi said in a statement Wednesday.
“The structure indicates that Romania inspires confidence to increasingly more markets,” he said.
Citibank, Deutsche Bank and HSBC were lead-managers on the deal.
In January, Romania sold $1.5 billion in 10-year bonds on the US market at an annual yield of 6.875%. It was the second issue of the country’s benchmark EUR7 billion medium-term notes program and the first one in America in 16 years. The bond drew around $7 billion from investors.