In November 2013, Romania expanded its “medium-term note” (MTN) program for the following three years and almost doubled its ceiling from EUR8 billion to EUR15 billion. The initial program was adopted in 2010, for a period of three years.
The MTN program is a non-binding bond issuance plan, signed by Romania’s finance ministry with selected banks, which allows the eastern European country to tap international markets through standardized documents.
In its Wednesday meeting, the government also decided to remove the “medium” word from its program, because it has different definitions in Romanian and foreign legislations.