LONDON, Oct 10 (IFR) - Romania has set the spread for a tap of its €1bn 2.375% April 2027 bonds at 128bp over mid-swaps, according to a lead.
The compares with guidance of plus 130bp-135bp and an initial marketing level of plus 140bp area.
Books are at €2.7bn, including lead manager interest. The tap is expected to have a benchmark size.
The issuer is rated Baa3/BBB-/BBB- (all stable) and is expected to price the deal today via Barclays, Citigroup, Erste Group, ING and Societe Generale (B&D). (Reporting by Sudip Roy, editing by Julian Baker)