Romania increased ceiling on foreign government securities to 18 billion EUR

Noam Stiekema

The Romanian Government increased the maximum amount of potential issues of government securities in international capital markets for 2014 and 2015. The increase is with 3 billion EUR, as now the ceiling for issue of government securities in international capital markets reached 18 billion EUR. The initial plans of the government in Bucharest had to […]

Romania

RomaniaThe Romanian Government increased the maximum amount of potential issues of government securities in international capital markets for 2014 and 2015. The increase is with 3 billion EUR, as now the ceiling for issue of government securities in international capital markets reached 18 billion EUR. The initial plans of the government in Bucharest had to raise up to 15 billion EUR from the markets in 2015 and 2016 emissions will not necessarily be in EUR currency, reads statement of the Romanian Government.

The medium-term program of securities issue is non-binding plan to sell the bonds through which the Ministry of Finance of Romania will receive funds from foreign investors.

The same contract made also the Bulgarian government. Four banks will manage global medium-term program of the country to issue bonds worth up to 8 billion EUR.

Furthermore, the Romanian government removed the term “medium” by the name of the program because Romanian law interpreting it one way, and international – in another. Earlier this month the Romanian debt managers have requested offers from banks for future Eurobond issue for which government is no specific deadline to be disposed.

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