Finance Ministry to borrow from external markets up to EUR 2.5 billion, by issuing two series of bonds

The Ministry of Finance is considering contracting loans from the external capital market of up to 2.5 billion Euro, by launching two EUR-denominated new series of bonds with a 6-year maturity or more and respectively with 12 year maturity, within the Medium Term Notes government bonds' programme-framework.

According to the Order published in the National Gazette, the final sum, as well as other terms and financial conditions are to be established when the bond issue is launched, depending on the market conditions.

The bond issue is administered by Citigroup Global Markets Europe AG, Erste Group Bank AG, HSBC Continental Europe, ING Bank N.V, J.P Morgan SE and Societe Generale, Agerpres.ro informs.

"The sum related to the bond issue is wired to the foreign currency account opened in the name of the Ministry of Finance and the National Bank of Romania and is used for financing the budget deficit, refinancing and early refund of public Government debt, in accordance with the provisions of the legislation regarding public debt. The service payment of public debt related to the bond issue is ensured in accordance with the public debt current legislation," the Order mentions.