January 23 (SeeNews) - Romania has issued 3 billion euro ($3.32 billion) worth of Eurobonds on foreign markets in two tranches on January 21 - its first sale of Eurobonds this year, the finance ministry said.
The Eurobonds were issued in two tranches, which have maturity of 12 years and 30 years, respectively, the finance ministry said in an announcement published in the Official Gazette on Wednesday.
The funds raised from the issuance of Eurobonds will be used to finance budget deficit and early redemption of government debt.
According to local media reports, investors placed orders for 12 billion euro worth of Romanian Eurobonds. More details on the issue are expected to be released by the finance ministry in the coming days.
The finance ministry intends to auction 5 billion lei ($1.2 billion/1.05 billion euro) worth of government securities in January, including 615 million lei in non-competitive offers.
In 2019, the finance ministry sold roughly 60 billion lei and 1.6 billion euro worth of domestic debt paper. It also tapped foreign markets for 5 billion euro worth of 2026, 2031,2034 and 2049 Eurobonds.
($=0.9018 euro)