© Reuters. FILE PHOTO: Euro banknotes are seen in this illustration taken July 17, 2022. REUTERS/Dado Ruvic/Illustration
BUCHAREST (Reuters) – Romania’s Finance Ministry has raised its Eurobond issuance ceiling to account for indicative foreign debt plans worth 9.5 billion euros ($10.4 billion) from April until December 2024, treasury chief Stefan Nanu said.
But Eurobond targets could be downsized given robust domestic demand, he told Reuters.
The ministry raised the maximum amount the ministry could borrow through its medium term note programme (MTN), a non-binding foreign debt issuance plan that allows debt managers to tap markets through standardised documents.
The ministry sold foreign issues worth 55.6 billion euros during 2012-2023, nearly tapping out the MTN’s current top value of 56 billion euros. The ministry has raised it by 6 billion euros, adding foreign issues worth 4.6 billion euros will mature this year and in 2024.
“The MTN programme is a ceiling, it gives us flexibility to issue, but we don’t have to fully execute,” Nanu said. “It is possible we will cut Eurobond issuance considering the way domestic funding goes.”
($1 = 0.9133 euros)
