Romania Fin Min: Eurobond Issue Won’t Sidetrack 2010 Agenda

„We require financing, and external financing is a potential source (…) this is part of the financing program, not an additional necessity or a necessity outside the financing program set for 2010,” Vladescu told the lawmakers at the debates on the 2010 draft budget.

Vladescu said Romania is constantly borrowing money and whether it does so locally or externally is only a matter of market diversification.

He said there is „nothing special” about the loan, underscoring that Romania will not exceed its borrowing cap set for this year.

On Tuesday, Vladescu said Romania will launch a EUR1 billion eurobond issue at an unspecified date in the first quarter.

The benchmark issue was initially scheduled for October last year, but the Finance Ministry has put it on hold after the government collapsed and Romania plunged into political crisis.

The ministry hired Deutsche Bank, EFG Eurobank and HSBC Bank as joint lead managers for the issue, whose maturity might be between 5 and 10 years.