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Romanian Finance minister and Central Bank vice-governor meet foreign investors in Finance 1st road-show day. The pot: 1 billion euros worth of Eurobonds

de Dan Popa, transl/adapt. C.B.
Luni, 8 martie 2010, 14:38 English | Business

Romanian Central Bank (BNR) vice-governor Cristian Popa and Finance minister Sebastian Vladescu have stared on Monday, March 8 2010, a promotion tour: Romania will launch a Eurobonds issue on foreign markets. "Technically speaking, these road-shows used to be meetings between Romania's reps with foreign investors - banks, risk funds s.a. Romania's representatives will introduce a kind of

Memorandum, describing Romania's economic situation, the agreements that Romania has with international institutions, Eurobonds emission history and several estimated conditions addressing the actual Eurobonds issue", ex-Finance minister Daniel Daianu tells

The interest for Romanian Eurobonds will be clear at the road-show finale

"Banks representatives handling the entire issuing process will be present at the meetings. In their turn, foreigners will put together their due-diligence report that helps form an opinion on the Romanian economy evolution. After meetings and discussions would have taken place, Romania will realise if there interest exists, if an issue would be over-subscribed or on the contrary. The offer conditions are corrected according to this aspect ", professor Daianu states.

The issue was prepared for October 2009 and postponed

The Eurobonds issue had been prepared by the Romanian Finance Ministry (MFP) for October last year, but because of the political crisis context it has been postponed for 2010. Greece was also planning a similar road-show for February this year, but because of the sudden degradation of their economy, the issue was cancelled.

Finance attracted 64.7 bln lei on the inner market

The MFP for 2010 targets loans both on the inner market, as well as on the foreign market. For state titles in lei, the Romanian currency, MFP will test the market with issues on 10 years. Last year, MFP attracted 64.7 bln from the inner market.

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