SIMILAR ARTICLES

Phil Hogan: Swine fever in Romania has an impact on neighbouring countries and EU trade in pigs

Prime Minister Viorica Dancila, European Commissioner Phil Hogan and Agriculture Minister Petre Daea The swine fever epidemics in Romania has an impact on neighbouring countries,… Mai mult

Infrastructure projects lost EUR 41.5 million following budget amendment. In what projects cuts have been made

Despite the assurances that Dancila government is concerned and intensely working on the road infrastructure projects, at the budget amendment the Transport Ministry has cut… Mai mult

Finance Ministry wants to change rules for insolvency: state could also register claims after procedure is launched

Companies’ possibility to avoid paying creditors (and in particular the payment of tax receivables) simply by declaring their insolvency would be drastically limited, according to… Mai mult

European Parliament have decided to adopt in October a resolution on the rule of law in Romania

Leaders of the political groups in the European Parliament have decided to adopt in October a resolution on the rule of law in Romania. The… Mai mult

S&P maintains Romania’s rating at “BBB-A-3”, with a stable outlook: arguments

Rating agency Standard & Poor’s confirmed on Friday ratings for long- and short-term debt in foreign and local currency to “BBB-/A-3” with a stable outlook,… Mai mult

Ministry of Finance has sold euro bonds worth one billion euros on foreign market

de Adrian N Ionescu 16.10.2017

The Ministry of Finance (MFP) placed euro bonds worth EUR 1 billion on the foreign market by reopening the issue with the maturity of 10 years launched in April this year.

The issue has been placed with a 2.375% coupon at a yield of 2,114%, lower than the one of the initial issue in April (2.411%), following “the decrease of the related margin of Romania’s credit risk to the lowest level for such a maturity, namely 128 basis points over the mid-swap benchmark quotations, compared to 170 base points obtained in April,” mentioned MFP.

The issue has been thus oversubscribed by more than two times, and “the cumulative volume for this series reached EUR 2 billion, which led to an increased liquidity on the secondary market.”

“The demand has rapidly collected over EUR 2 billion in the first three and a half hours since launch and the total offer came from 140 investors from different regions. (…) The transaction’s investment base had a high geographical granularity and in terms of investor types,” says MFP.

The geographical distribution was as follows: Romania (18%), the UK (17%), Central and Eastern Europe (17%), Germany / Austria (14%), France / Benelux (10%), Italy (6%), Switzerland (5%), the US (4%), Scandinavia (3%) and other countries (6%).

By types of investors, fund managers were predominant (63%), followed by commercial banks and private banks (24%), pension funds and insurance companies (9%), and central banks and official institutions (4%).

This is Romania’s second launch in the international markets this year after the Ministry of Finance attracted EUR 1.75 billion in April by two separate issues, the one reopened today and another one with the maturity in 2035.

For the whole 2017, there are financings planned of EUR 3 billion by euro bonds, almost entirely covered by the issues launched so far.

“The transaction completed the external financing plan for 2017. The issue is in line with the objectives of the debt management strategy, by extending the average maturity of the government debt portfolio and strengthening the state’s reserve in foreign currency,” concludes the mentioned source.

The issue intermediaries were Barclays Bank PLC, Citigroup Global Markets Limited, Erste Group Bank AG, Societe Generale and ING Bank NV.

Mergeți în homepage ›

Publicat la data de 16.10.2017

Lăsați un comentariu


NEWS

Finance Ministry wants to change rules for insolvency: state could also register claims after procedure is launched

Companies’ possibility to avoid paying creditors (and in particular the payment of tax receivables) simply by declaring their insolvency would be drastically limited, according to… Mai mult

Phil Hogan: Swine fever in Romania has an impact on neighbouring countries and EU trade in pigs

Prime Minister Viorica Dancila, European Commissioner Phil Hogan and Agriculture Minister Petre Daea The swine fever epidemics in Romania has an impact on neighbouring countries,… Mai mult

Infrastructure projects lost EUR 41.5 million following budget amendment. In what projects cuts have been made

Despite the assurances that Dancila government is concerned and intensely working on the road infrastructure projects, at the budget amendment the Transport Ministry has cut… Mai mult

European Parliament have decided to adopt in October a resolution on the rule of law in Romania

Leaders of the political groups in the European Parliament have decided to adopt in October a resolution on the rule of law in Romania. The… Mai mult

"Romania's buffers have deteriorated, the country is less prepared for a negative shock" - IMF will reduce economic growth estimate

Romania will be less prepared if the economy is hit by a negative shock, as the structural deficit has been deteriorated - IMF representative for… Mai mult

Premiere: CSAT asks Finance Ministry to amend amendment - session suspended until Government comes with a draft that does not affect budgets of secret services

President Klaus Iohannis suspended on Tuesday the CSAT meeting for discussing the budget amendment, as there was no consensus on the budgets of institutions from… Mai mult

S&P maintains Romania's rating at "BBB-A-3", with a stable outlook: arguments

Rating agency Standard & Poor's confirmed on Friday ratings for long- and short-term debt in foreign and local currency to "BBB-/A-3" with a stable outlook,… Mai mult

"Romania’s presidency seems to fail before it starts": Gunther Krichbaum - reaction to anti-German violent statements made by government officials

Romania's presidency of the Council of the European Union seems to fail even before it starts, warns Chairman of the Bundestag European Affairs Committee Gunther… Mai mult

OMV Petrom sells a quarter of its deposit perimeters to finance potential gas extraction from Black Sea

OMV Petrom (SNP) will sell another 50-60 perimeters from its portfolio of about 200, as most of the company's investments focus on operating the Black… Mai mult

Emigration continues: 220,000 Romanians left the country in 2017

The number of people who left the country for more than 12 months continued to grow last year, reaching almost 220,000 people (which exceeds the… Mai mult

181 magistrates sign a criticizing letter addressed to Minister of Justice

The Minister of Justice stirred up the fury of magistrates. 181 prosecutors and judges sent him a letter criticizing Tudorel Toader for his statements about… Mai mult

Canada takes over air-policing missions operated from Mihail Kogalniceanu base

MApN announced on Wednesday that Mihail Kogalniceanu Air Base 57 had a ceremony occasioned by the handing over of the Enhanced Air Policing between the… Mai mult

Ministry of Finance is drafting a new fiscal framework valid as of January 1, 2019

The Ministry of Public Finance makes a "comparative analysis" of the Tax Code and the Tax Procedure Code with a view to applying a new… Mai mult

Eurostat: Romania and evolution of employee number in public sector in an European context

Romania, Hungary and Slovenia are the member states that recorded the largest increase in the share of public sector employees in the total number of… Mai mult