BUCHAREST (Romania), October 14 (SeeNews) – Romania has put on hold plans to launch an Eurobond worth up to 1.5 billion euro ($2.2 billion) this month due to political uncertainty following the fall of the country’s minority government, Reuters reported on Wednesday.
The finance ministry has a government mandate for a Eurobond worth between 500 million and 1.5 billion euro, with a maturity range of 5-10 years.
"We did not abandon Eurobond plans ... it is just postponed given current political turbulences," Reuters reported quoting an unnamed senior government official.
"When the political situation stabilises and of course conditions will become favourable that will be done for sure."
Last month local media reported the Finance Ministry could launch the Eurobond issue between October 1 and 15.
The ministry has picked Deutsche Bank, EFG Eurobank, and HSBC Bank as the issue’s lead-managers, and a consortium comprising international law firm Slaughter and May and Bucharest-based Bulboaca&Asociatii as the legal advisor.
Romania plans to use the raised funds to finance its budget deficit and re-finance public debt.
($=0.6713 euro)