Romania could finish 2013 funding with euro benchmark

Romania opened books on a benchmark Reg S euro deal on Thursday morning and is aiming to price the seven year transaction in the afternoon. A €1bn bond would round off the sovereign’s borrowing programme for the year and it is offering a decent spread that should bring in buyers, said bankers away from the bond.

  • By Steven Gilmore
  • 12 Sep 2013

Bookrunners Citi, Deutsche Bank, HSBC and Société Générale approached investors with initial price thoughts in the low 300bp over mid-swaps area. They revised this to 295bp-305bp with orders of more than $5bn. 

The best price comparable is the sovereign’s 4.875% November 2019 bond, which was trading around 260bp over ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.

European Sovereign Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 4,124.57 4 12.86%
2 Citi 3,544.03 6 11.05%
3 NatWest Markets 3,044.30 2 9.49%
4 Goldman Sachs 2,534.37 4 7.90%
5 Barclays 2,461.72 2 7.68%

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 7,644.11 6 14.34%
2 Citi 6,191.70 7 11.61%
3 Goldman Sachs 6,147.24 8 11.53%
4 Deutsche Bank 6,126.48 5 11.49%
5 JPMorgan 4,598.48 6 8.63%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Barclays 7,351.66 8 11.87%
2 Credit Agricole CIB 6,342.60 7 10.24%
3 JPMorgan 6,071.58 8 9.80%
4 Goldman Sachs 5,036.65 5 8.13%
5 Citi 5,011.57 14 8.09%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 11,994.79 37 9.01%
2 Citi 11,939.79 30 8.97%
3 Goldman Sachs 11,183.90 13 8.40%
4 Barclays 10,192.94 14 7.66%
5 HSBC 9,741.93 13 7.32%