“Right now, as we received the money from the European Commission, we are very relaxed. This relaxation affords us the luxury of waiting the perfect timing to launch the issue,” Dragoi said when asked for a deadline of the MTN program.
Thursday, the Commission disbursed a fourth installment worth EUR1.2 billion to Romania, part of a larger EUR5 billion loan negotiated two years ago.
Mid-February, Dragoi said MTN launch procedures would be completed in two weeks, but the ministry will monitor the markets to find the best financial and political moment as possible. The first issue will be worth some EUR500 million.
Romania selected Austria’s Erste Group Bank AG (EBS.RO) and French Societe Generale to handle the financing program.