Romania cuts through curve in triumphant return to euro 10s

Bucharest px230
By Steven Gilmore
16 Apr 2014

Romania priced its longest dated euro transaction in six years on Tuesday, as part of a comprehensive effort to push out the maturity of its public debt. The sovereign priced a €1.25bn 10 year note inside its secondary curve, and with the lowest coupon Romania has ever paid for an international bond issue.

“Our strategy has one major goal and that’s to extend the maturity of our funding,” said Liviu Voinea, Romania’s minister delegate for budget. This strategy was responsible for the 30 year tenor on the sovereign’s dollar bonds earlier this year, but the issuer had not sold such a ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial