Demand amounted to EUR12 billion, four times higher than Romania’s target.
The issues were managed by BNP Paribas, Citigroup Global Markets Limited, Raiffeisen Bank International AG, Societe Generale and Unicredit Bank AG.
Romania’s needs to borrow RON86.9 billion in 2020 to fund its budget deficit and refinance external debt. The finance ministry plans to raise around EUR6 million from international markets.