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