“We want to go either to the European or to the US markets in the second half of next month (November). Right now, the US market looks more attractive, mostly due to the potential volumes and their preference for longer maturities,” the ministry’s state secretary Bogdan Dragoi told Mediafax.
As to the local market, the ministry will focus more on bond issues with short and medium-term maturities, as investors are less interested in 10-year maturities, Dragoi said.
Early June, Romania sold EUR1.5 billion in five-year eurobonds, at an annual yield of 5.29%. It was the first issue of the country’s new EUR7 billion medium-term notes program and ministry officials said a second one might follow later in the year.
The sale drew significant bids from investors in the UK, Ireland and the US, who bought together about 50% of the debt.
After the sale, Dragoi said the ministry decided to upgrade the program to include US dollar-denominated paper.