Financiarul

The eurobonds issue that the Public Finances Ministry had arranged for this October will be launched in 2010, ministry’s state secretary Bogdan Dragoi told the Summit Economic Forum 2009 here on Thursday.

Before the fall of the Emil Boc Government a month ago, the ministry had planed to launch a eurobonds issue in the foreign markets in October amounting at between 500 million euros and 1.5 billion euros, with five to 10 years maturity. Dragoi announced that the Finances Ministry’s strategy for 2010 targets both loans from the domestic and foreign market; with respect to the national leu currency government bonds, the ministry will test the market by 10-year maturity issues, he added.

He stressed the ministry will not accept to pay the banks more than 10 percent yield to the government bonds. The Public Finances Ministry has scheduled for November auctions for government bond issues worth six billion lei, after having drawn from the market some 2.53 billion lei in October. In the 10 months of this year, the ministry drew from the market roughly 58 billion lei, up from 12.5 billion lei in the full 2008.