The Romanian government is confident it can steer clear of turbulence in emerging markets as it starts formalising plans to issue its longest-dated Eurobond.

Romania has confirmed that it intends to issue a euro-denominated bond with a maturity of between seven and 10 years in the next few weeks. A seven-year deal is a big challenge, not least because Romania will rely on attracting interest from big institutional investors. The shorter-dated deals appealed to retail buyers.