June 15 (SeeNews) - Romania's finance ministry said it aims to sell 4 billion lei ($995.8 million/857.9 million) of bonds directly to households in 2018.
The first household bond issue will have an interest rate of 5% and a five-year maturity, the ministry said in a statement on Thursday.
Citizens may acquire the securities, with a nominal value of 1 leu apiece, between June 15 and July 6, the ministry said.
An investor may undertake one or more subscriptions within a subscription period, but their maximum cumulative value may not exceed the amount of 100,000 lei, the ministry added.
Issuance of household bonds will continue in the coming months, possibly with other maturities, until the annual ceiling of 4 billion lei set for 2018 is reached, the ministry said.
(1 euro = 4.66231 lei)