Romania hires banks for euro bond

LONDON: Romania has hired four banks to lead manage a euro-denominated bond, according to several market sources.

The sovereign, rated Baa3/BB+/BBB-, has mandated Citigroup, ING, Societe Generale, and UniCredit to arrange the sale.

The banks declined to comment. The country tapped the US dollar market earlier this year, raising US$2bn through the issuance of 10- and 30-year notes.

It was last in the euro market in October, when it priced a 500m 4.625pc seven-year bond. That note was bid at a cash price of 106.53 to yield 3.47pc as of 1000 GMT on Friday, according to Tradeweb data.