Romania
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The company's second trade is very popular with buyers, like its 2024 debut -
The company is one of very few Romanian companies to issue overseas
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Leads said no new issue premium was required, but attrition was large
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If Romania can tackle its deficit then government and state-owned issuer borrowing costs will fall
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New issue premiums were slim on the dollar bonds and euro tap, despite the huge combined size
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Romania's sovereign bonds have enjoyed a rally after May's election
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Spread for Romanian utility's deal set flat to fair value with books over 10 times covered
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Romgaz trades flat to Romania's sovereign
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Political instability means reducing deficits in CEE will be tough
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Lending activity picks up in four central European countries
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Downgrades are looming if Romania cannot fix its sky high deficit
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Country is trying to reduce its bloated deficit, but political instability is complicating efforts
