Romania

Romania printed a €3bn triple trancher this week, the country’s largest ever euro deal, with one of the three tranches also being the longest ever euro bond from the country.

Romania has released initial price guidance for its euro triple tranche bond, a deal which is expected to total over €2bn and includes the sovereign’s first ever euro 30 year bond.

Banks with large exposures in Romania took a beating in the financial markets on Wednesday, after the country’s government unveiled plans to introduce a new tax on banking assets.

Alpha Bank Romania is preparing to sell a new deal in euros in the first quarter of 2019, in what would be the first ever issuance of covered bonds from the country.

Romania was able to cut the spreads on both tranches of its euro benchmark on Thursday.

Romania hit screens on Thursday morning for its second dual tranche euro benchmark of the year.

When UK telecoms company Vodafone announced in May that it had agreed to buy some of US rival Liberty Global’s European operations, it said it would use existing cash, €3bn of mandatorily convertible bonds and new debt, including hybrid bonds to fund the €18.4bn acquisition. On Wednesday, Vodafone sold the hybrid bonds, using four different tenors in three currencies. Nigel Owen reports.

Romania

In a rare instance for CEE countries, Romania has printed 30 year dollar bonds.

Romania has released initial price guidance for a dollar bond offering around a 30bp-40bp pick-up over its outstanding curve, according to a banker away from the deal.

Romanian supermarket chain Profi is in talks with banks to add to its €305m loan, signed in March last year.

Two central and eastern European corporates announced euro trades on Friday, adding to a busy pipeline of emerging markets deals.