The first issue of green bonds launched by the Romanian state on Thursday on the international market was a success. The issue, of 2 billion euro, was oversubscribed, receiving offers of 10 billion euro. The green bonds, issued for 12 years, mature on February 22, 2036.

In parallel, Romania also issued seven-year conventional bonds, an issue also worth 2 billion euro, according to Reuters.

The Ministry of Finance issued the necessary framework for issuing green bonds since last year, and the head of the Treasury, Ştefan Nanu, said in December that Romania plans to issue its first green bonds in the first half of 2024.

Also, Ştefan Nanu added that Romania intends to become a frequent annual issuer of green bonds and that he will try to keep the issues at a small volume.

Romania will use the green bonds to finance projects in the field of ecological transport, improving the energy efficiency of buildings and reforestation, among others.

All three major rating agencies assign Romania the lowest grade in the “investment grade” category, accompanied by a stable outlook.

The arrangers of Thursday’s show are Citi, HSBC, Erste Group, JP Morgan and Societe Generale.

Autor: Bogdan Tudorache

Active in the economic and business press for the past 26 years, Bogdan graduated Law and then attended intensive courses in Economics and Business English. He went up to the position of editor-in-chief since 2006 and has provided management and editorial policy for numerous economic publications dedicated especially to the community of foreign investors in Romania. From 2003 to 2013 he was active mainly in the financial-banking sector. He started freelancing for Energynomics in 2013, notable for his advanced knowledge of markets, business communities and a mature editorial style, both in Romanian and English.