Romania will launch a Eurobond issue with a maturity of at least ten years in the first quarter of 2016, according to the Head of Treasury Stefan Nanu.

He said that Romania will borrow from the international markets exclusively in euro this year and that the Treasury planned two Eurobond issues in total this year, worth some EUR 3 billion.

Romania’s Finance Ministry will also launch a Eurobond issue on the local market, in February, as the local banks have asked the state to issue bonds in euro so that they would have an alternative to place the money that has been freed up by the central bank’s decision to reduce minimum reserve requirement for liabilities in euro, Nanu explained.

Romania’s financing need is some EUR 15.5 billion this year, to be covered by domestic and international bond issues.

Romania considers issuing Eurobonds in the next period with short-term and very long-term maturities, said the Finance Minister Anca Dragu, quoted by Reuters.

The country has a rating of “Baa3” from Moody's and “BBB minus” from Standard & Poor's and Fitch.

editor@romania-insider.com