Almost 30 major international banks are vying for the position of lead managers of the minimum 500 million-euro bond issue that the Economy and Finance Ministry plans to release soon, Sebastian Vladescu, the secretary of state in charge of the Treasury told ZF. By 3 p.m. on Friday, twenty-five banks interested in the deal sent bids detailing the structure and the cost at which the ten-year bond issue could entail. Vladescu believes that Romania can borrow from the international market at coupons worth around 5%, given that on the domestic market it has just rejected the offers of RON from banks in the form of ten and five-year bonds, deeming the interests in excess of 7% as too high. Vladescu says that the budget needs a buffer-fund should January and February bring a cash shortage, which may, in part, happen because of an effort to pay higher pensions.
ZF English
25 banks vying to sell Romanian bonds
Almost 30 major international banks are vying for the position of lead managers of the minimum 500 million-euro bond issue that the Economy and Finance Ministry plans to release soon, Sebastian Vladescu, the secretary of state in charge of the Treasury told ZF