Romania plans a new Eurobond issue of EUR 1-1.5 billion by the end of the year, said Diana Popescu, deputy treasury director within Romania’s Finance Ministry. The country could also borrow up to EUR 750 million from the World Bank to meet its 2015 foreign issuance target, Popescu added.

The Finance Ministry wants to wait for the right moment to issue Eurobonds. This is due to the volatility stemming from the situation in Greece and worries about Chinese economic growth, reports Reuters.

The Ministry may consider a second issue if conditions improve, besides the Eurobond issue of EUR 1-1.5 billion in the following period.

Romania is rated an investment grade Baa3 by Moody's and BBB- by Fitch Ratings and S&P. The country had a budget surplus of almost EUR 1.5 billion after the first eight months of the year.

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