June 7, 2018 / 4:18 PM / 11 days ago

Romania sets yield for 30-year US dollar benchmark at 5.20%

LONDON, June 7 (IFR) - Romania has set the yield at 5.20% for a new 30-year US dollar bond offering, according to a lead.

The sovereign initially started marketing the notes at 5.40% area, before guidance was set at 5.25% area.

The pre-reconciled order books for the bond are over US$1.8bn.

In conjunction with the bond transaction, Romania is conducting a concurrent switch and tender offer on its US dollar 6.75% notes due 2022.

The size of the new bond across the switch and new money is expected to be US$1bn.

Romania is rated Baa3/BBB-/BBB-. Citigroup, Deutsche Bank, HSBC, JP Morgan and UniCredit are joint lead managers. (Reporting by Robert Hogg; editing by Sudip Roy)

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