February 15, 2013 / 11:11 AM / 5 years ago

Romania says 10-year dollar bond nearly 5 times subscribed

BUCHAREST, Feb 15 (Reuters) - A $1.5 billion sale of 10-year dollar bonds by Romania was nearly five times subscribed, the finance ministry's treasury director said on Friday.

Thursday's issue - Romania's first foray onto a foreign debt market since a December parliamentary election that eased political tensions - sold at a yield of 4.5 percent, 125 basis points below initial guidance.

That made it the country's cheapest foreign debt issue to date.

"The total order book was a little over $7 billion," Diana Popescu told Reuters.

The bonds are Romania's second dollar-denominated Eurobond on the U.S. market, after it sold $2.25 billion of an earlier issue in two taps at around 6.9 percent and 6.5 percent in the first quarter of last year.

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