The Romanian Ministry of Public Finance has raised capital through three public government bond issuances

The Ministry of Public Finance has completed the primary offer for the sale of government bonds for the population (FIDELIS), which took place between 15 July and 7 August, through the Bucharest Stock Exchange system. The offer included two issues denominated in the national currency, with two and four years’ maturity, and one issue denominated in euros, with five years’ maturity.

The annual interest rate for the bonds denominated in euros is 2%, while for the bonds in RON is 4% and 4.5% for those maturing in 2022 and 2024 respectively.

Oaklins’ team in Romania was the lead manager of a three-member local consortium, alongside BCR and BRD, and acted as debt advisor and authorized consultant for the government’s bond issuance, assisting the Ministry of Public Finance all the way, from the start to the successful completion and listing of the financial instrument on the Bucharest Stock Exchange. During this process, the team initiated and advised on many aspects, including, among others, maturity, coupon, deal structuring and timing.