Romanian City of Bacau To Offer Municipal Bonds Worth 40 Mln Lei (9.5 Mln Euro) on Bucharest Bourse

The 400,000 bonds have a par value of 100 lei each, equal to their issue price, BVB said in a statement late on Tuesday.

The bonds bear an interest rate equal to the arithmetic average of the six-month Romanian interbank rates ROBOR and ROBID plus a spread of 0.85%.

The intermediary of the offer is local brokerage Raiffeisen Capital & Investment.

(1 euro = 4.2227 Romanian lei)