Romania's Alba Iulia To Launch 18-Yr Municipal Bonds Worth 32 Mln Lei (7.6 Mln Euro)

The town, located in central Romania, will issue 320,000 bonds with a par value equal to their issue price of 100 lei each. The public offer will be valid between December 14 and December 18, CNVM said in a statement.

The bonds will carry an interest rate equal to a six-month Romanian interbank rate ROBOR plus a spread of 0.55%. CNVM did not elaborate on the purpose of the bond issue.

The bonds will be listed on the Bucharest Stock Exchange. Local BT Securities brokerage house will manage the issue.

(1 euro=4.2216 Romanian lei)