Romania To Start Road-show For International MTN Issue June 6

05.27.2011 ZF English

Romania will start on June 6 the road-show presentations for a first international issue of its planned EUR7 billion medium term notes (MTNs) program, market sources told MEDIAFAX Friday.

The Finance Ministry last year selected Austria's Erste Group Bank AG (EBS.RO) and French Societe Generale to handle the financing program.

The ministry said it plans to launch the first bond issue before July, followed by another issue in the second half of the year.

In 2010, Romania announced a three-year MTNs program worth up to EUR7 billion. However, the country didn't attract any funds via the program so far.

Early May, the ministry sold debt worth EUR939 million in three-year foreign currency bonds on the local market, at an average interest of 4.89% a year.

The latest international debt sale took place in March 2010, when the ministry attracted EUR1 billion in a five-year Eurobond, at an annual yield of 5.17%.