S&P: Romanian Govt To Sell EUR6.4B Medium, Long-Term Notes In 2011

04.13.2011 By Florentina Dragu

The Romanian government is likely to sell medium and long-term notes worth EUR6.4 billion in 2011, up 64% on the year, according to a report from Standard&Poor's.

The Romanian government is likely to sell medium and long-term notes worth EUR6.4 billion in 2011, up 64% on the year, according to a report from Standard&Poor's.

In 2010, Romania sold debt worth EUR3.9 billion, the ratings agency said.

Overall, European Union member states are estimated to borrow EUR1,100 billion via medium and long-term notes in 2011, down from EUR1,292 billion a year earlier.

The report doesn't include national debt issued on behalf of public institutions or state-guaranteed bonds.

S&P estimates Romania's medium and long-term foreign debt will increase to EUR35.2 billion in 2011, from EUR31.2 billion in the previous year.

Public debt rollover is estimated at 35.6% of the total debt, the highest level in EU.