Strong interest in Romanian eurobonds from investors in Germany and Austria

The 1 billion-euro eurobonds launched on Thursday in Romania generated very strong interest from investors in Germany and Austria, says Bogdan Dragoi, secretary of state in the Ministry of Finance in charge of the Treasury.
"The fact that the eurobond issue was five times oversubscribed allowed us to select the type of investors we are interested in, rather than take money from those with a preponderantly speculative approach. I have noticed a very significant interest from investors in Germany and Austria," Dragoi told ZF.
The banks that handled the bond issue, Deutsche Bank, HSBC and EFG Eurobank, received significant subscription offers from the US and the UK (35%, many of them offshores), while investors in Germany and Austria amounted to 30%. In all, investors were willing to place almost 5 billion euros in Romanian bonds. Broken down into investor categories, fund managers showed the biggest interest, with 425, banks - 22%, pension funds and insurance companies - 16%, and hedge funds - 14%.