The yield was below the initial price guidance of 4.625%. Investors offered $7.5 billion, the mentioned people said.
“It was a very good sale, considering that Romania doesn’t have to pay a liquidity premium. For comparison, Romania had to pay a liquidity premium of some 0.80 percentage points at the previous two US dollar-denominated bonds,” ING Bank’s economist Mihai Tantaru said.
Barclays, Citibank, HSBC and BNP Paribas were bookrunners on the deal.
This was the country’s first international bond issue this year.
In 2012, Romania tapped foreign markets for $2.25 billion at two US dollar-denominated bond sales and raised another EUR2.25 billion via two Eurobonds.