Romania raises 3.25 billion euros in Eurobonds to finance higher gap (1)

Romania raised 3.25 billion euros ($3.5 billion) via a Eurobond in two tranches, tapping international markets for the third time this year and exceeding its borrowing target as the country will likely need more funds to finance a larger budget deficit.

The Balkan country sold 2,028 euro-denominated bonds with a final spread of 225 basis points on mid swaps and bonds maturing in 2033 at 330 basis points, according to a person familiar with the matter, who asked not be identified because they are not authorized to talk about it. Total demand exceeded 7.5 billion euros.

The issue comes after the national debt…