New Issue: Romania prices €3.5 billion notes due 2033, 2041

By Rebecca Melvin

Concord, N.H., April 8 – Romania, acting through the Ministry of Public Finance, priced €3.5 billion of notes due in 2033 and 2041, according to market sources.

The €2 billion of 2% notes due April 14, 2033 priced at 98.907 to yield mid-swaps plus 195 basis points. Pricing was tight to guidance in the mid-swaps plus 205 bps area and initial talk of the mid-swaps plus 225 bps area.

The €1.5 billion of 2.75% notes due April 14, 2041 priced at 99.651 to yield mid-swaps plus 235 bps. Pricing was tight to guidance in the mid-swaps plus 245 bps area and initial talk of the mid-swaps plus 265 bps area.

BNP Paribas, Citigroup, HSBC, Raiffeisen Bank International, Societe Generale and UniCredit were bookrunners of the Rule 144A and Regulation S deal.

Issuer:	Romania
Issue:	Notes
Amount:	€3.5 billion
Bookrunners:	BNP Paribas, Citigroup, HSBC, Raiffeisen Bank International, Societe Generale and UniCredit
Pricing date:	April 8
Settlement:	April 14
Distribution:	Rule 144A and Regulation S
2033 bond
Amount:	€2 billion
Maturity:	April 14, 2033
Coupon:	2%
Price:	98.907
Yield spread:	Mid-swaps plus 195 bps
Price talk:	Guided to mid-swaps plus 205 bps area from initial price talk of mid-swaps plus 225 bps area
2041 bond
Amount:	€1.5 billion
Maturity:	April 14, 2041
Coupon:	2.75%
Price:	99.651
Yield spread:	Mid-swaps plus 235 bps
Price talk:	Guided to mid-swaps plus 245 bps area from initial price talk of mid-swaps plus 265 bps area

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