October 10, 2017 / 2:46 PM / 7 days ago

Romania launches EUR1bn tap of 2.375% 2027 notes

LONDON, Oct 10 (IFR) - Romania has launched a €1bn tap of its 2.375% April 2027 bonds at 128bp over mid-swaps, according to a lead.

That compares with guidance of plus 130bp-135bp and an initial marketing level of plus 140bp area.

Books were €2.7bn at the last update, including lead manager interest.

The outstanding size of the bond before the reopening was €1bn.

Romania is rated Baa3/BBB-/BBB- (all stable) and is expected to price the deal later today via Barclays, Citigroup, Erste Group, ING and Societe Generale (B&D). (Reporting by Robert Hogg, editing by Julian Baker)

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