April 10, 2017 / 12:16 PM / 8 months ago

Romania revises pricing for dual-tranche deal

LONDON, April 10 (IFR) - Romania has set guidance for a dual-tranche euro offering, according to a lead.

The sovereign has revised pricing for a new 10-year benchmark bond to 175bp-180bp over mid-swaps, after initially marketing the notes at 185bp area over.

Romania has set guidance for a reopening of its €1.25bn 3.875% notes due October 2035 at a yield of 3.60% area. That compares to an initial marketing level of 3.65% area.

The aggregate order books are over €2.75bn, with a skew to the 10-year. The books are open for today’s business via Barclays, Citigroup, Erste Group, ING and Societe Generale.

Romania is rated Baa3/BBB-/BBB-. (Reporting by Robert Hogg; editing by Sudip Roy)

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