NEW YORK - Citibank announced the opening of a representative office in Bucharest, making Romania the 95th country where the Citicorp unit has a direct presence.

Citibank International recently led a $150 million syndicated loan for Romania in which 31 banks participated. The funds were the first raised by the country in international capital markets in 15 years.

Another loan and a Eurobond financing are also planned for this year, Citibank said.

David Garner, the newly appointed corporate officer for Romania, said Citibank's entry reflects "the improvement in the macroeconomic position of the country and the opportunities which will follow from the increased trading and investment activities there of some of Citibank's major global clients.

"It also reflects the excellent relationships Citibank has with the major Romanian banks - in particular, the National Bank of Romania."

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