September 28 (SeeNews) - Romania has opened books on its 1.0 billion euro ($1.12 billion) outstanding benchmark-sized 12-year Eurobond, Raiffeisen Bank International (RBI), one of the issue's lead managers said on Wednesday.
"Romania has mandated Citi, J.P.Morgan, Raiffeisen Bank International AG, SG CIB and UniCredit to lead manage an increase of the outstanding 2.875% notes due May 26, 2028, Reg S/ Rule144A format. The deal will be launched in the near future, subject to market conditions. ICMA/FCA stabilisation applies," RBI told SeeNews in an emailed statement.
The book is currently in the area of a 2.25% yield, and is currently in excess of 1.2 billion euro, RBI added.
On May 20, Romania raised 1 billion euro through the sale of 12-year Eurobonds at 2.99% yield amid solid demand. Investors placed 200 orders worth nearly 2 billion euro at the time.
On February 19, Romania raised 1.25 billion euro through the sale of two Eurobond issues at historically low yields. It reopened then 10-year and 20-year euro-denominated securities issues, first launched in October 2015.
Romania is rated BBB- by Fitch and S&P and Baa3 by Moody's.
($=0.8912 euro)