BUCHAREST (Romania), October 2 (SeeNews) – Romanian northwestern Bistrita municipality will issue 20-year bonds worth a total of 35 million lei ($11.9 million/8.2 million euro) to repay a loan of the equivalent amount taken out from Romania's Raiffeisen Bank, the country's stock exchange regulator CNVM said on Friday.
The city will issue 350,000 bonds with a par value equal to their issue price of 100 lei each. The public offer will be valid between October 13 and October 19 and may be prolonged, CNVM said in a statement.
The bonds, to be listed on the Bucharest Stock Exchange, will bear an interest rate equal to the arithmetic average of the quarterly Romanian interbank rates ROBOR and ROBID plus a spread of 0.8%.
The intermediary is Romanian brokerage house Raiffeisen Capital&Investment.
(1 euro = 4.2777 Romanian lei)