Romania Plans To Sell EUR600M 3-Yr FX Bonds Wednesday

04.29.2011 By Florentina Dragu

Romania’s Finance Ministry plans to raise at least EUR600 million at a three-year foreign currency bonds May 4 to finance the budget deficit and refinance public debt, the Finance Ministry said in a statement Friday.

Romania's Finance Ministry plans to raise at least EUR600 million at a three-year foreign currency bonds May 4 to finance the budget deficit and refinance public debt, the Finance Ministry said in a statement Friday.

The issue will carry a coupon of 4.5% a year, the ministry said. This will be the first euro-denominated bond sale on the domestic market in 2011.

Last year, the ministry sold EUR2.5 billion in two foreign currency auctions.

In local currency, Romania sold debt worth RON21.3 billion (around EUR5.2 billion) in January to April.