Romania Braves Market Upheaval With FX Bond Sale to Plug Gap
- Romania offers 5-year, 9-year euro notes, 12-year dollar bond
- Country’s bonds have slid on fiscal concerns, political risk
The sale comes after the government in Bucharest approved a draft budget for this year which aims to narrow the budget deficit.
Photographer: Andrei Pungovschi/BloombergThis article is for subscribers only.
Romania is tapping international capital markets for the first time this year, raising new debt at a turbulent moment for domestic politics and global investor sentiment.
Its new euro- and dollar-denominated bonds were on offer on Monday after a jump in yields as the government struggles to rein in election spending that caused the widest budget deficit in the European Union last year.