Romania
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Alpha Bank Romania plans to issue the first covered bond from Romania under the country’s newly established legal framework. -
Globalworth Real Estate, the London-listed real estate investment trust focused on Romania and Poland, has completed the sale of up to €500m of fresh equity to finance its pipeline of investment opportunities.
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Rating: Baa3/BBB-/BBB-
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Romania printed a €3bn triple trancher this week, the country’s largest ever euro deal, with one of the three tranches also being the longest ever euro bond from the country.
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Romania has released initial price guidance for its euro triple tranche bond, a deal which is expected to total over €2bn and includes the sovereign’s first ever euro 30 year bond.
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Banks with large exposures in Romania took a beating in the financial markets on Wednesday, after the country’s government unveiled plans to introduce a new tax on banking assets.
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Alpha Bank Romania is preparing to sell a new deal in euros in the first quarter of 2019, in what would be the first ever issuance of covered bonds from the country.
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Romania was able to cut the spreads on both tranches of its euro benchmark on Thursday.
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Romania hit screens on Thursday morning for its second dual tranche euro benchmark of the year.
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When UK telecoms company Vodafone announced in May that it had agreed to buy some of US rival Liberty Global’s European operations, it said it would use existing cash, €3bn of mandatorily convertible bonds and new debt, including hybrid bonds to fund the €18.4bn acquisition. On Wednesday, Vodafone sold the hybrid bonds, using four different tenors in three currencies. Nigel Owen reports.
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In a rare instance for CEE countries, Romania has printed 30 year dollar bonds.
