BUCHAREST (Romania), August 19 (SeeNews) – The northeastern Romanian city of Bacau will offer to investors 40 million lei ($13.4 million/9.5 million euro) worth of municipal bonds on the Bucharest Stock Exchange, BVB, between August 21 and 27, the bourse said.
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)