Romania Braves Market Upheaval With FX Bond Sale to Plug Gap (2)

Romania is tapping international capital markets for the first time this year, raising new debt at a turbulent moment for domestic politics and global investor sentiment.

Its new euro- and dollar-denominated bonds were on offer on Monday after a jump in yields as the government struggles to rein in election spending that caused the widest budget deficit in the European Union last year.

The offer includes a five-year euro note, with price guidance in the 310 basis-points area over midswaps and a 9-year security at around 405 basis points, according to a person with knowledge of the matter. Romania is ...