On the five-year issue, Romania raised $1.35 billion. On the 10-year maturity, it raised a total $1.06 billion, of which $310 million represents refinancing of previously issued bonds maturing in 2022, 2023 and 2024, respectively, Bloomberg reported.
The five-year issue matures on February 27, 2027 and the ten-year issue matures on March 27, 2032.
Bond issues were intermediated by Citi, Erste, HSBC, ING, JP Morgan and Societe Generale.
A document released by the finance ministry last week shows Romania needs to tap the local and international markets to borrow RON145 billion in 2022 in order to cover the budget gap and to refinance previous debts, considering a budget deficit estimated at 5.84% of gross domestic product (approximately RON77 billion) and debts worth nearly RON68.4 billion to be refinanced in 2022.
The finance ministry expects the budget gap to be almost 30% covered from funds raised on the local market and 70% from funds raised on the external market.
The finance ministry plans to raise as much as EUR14 billion selling debt on external markets in 2022.