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The Romanian Ministry of Public Finance launches the first offer of government bonds for retail investors in the past 4 years. The offer includes 3 issues - two in the national currency and one in euros

7/14/2020

Romania’s Ministry of Public Finance (MFP) has planned to launch the first Government bonds offer from the past four years. The selling offer dedicated to natural investors will unfold between July 15th and August 7th. The offer, which will include 3 issues that will be listed on the Bucharest Stock Exchange (BVB), is made up of 2 issues denominated in the Romanian currency with a maturity of 2 years, namely 4 years, and one issue denominated in euros with a maturity of 5 years. The issues target exclusively the natural investors, and the minimum subscription value is RON 5,000 for the RON issues, or EUR 1,000 for the EUR issues.

The characteristics of these products are presented in the table below:

Criterion

RON issue 2022

RON issue 2024

EUR issue 2025

Offering period

July 15 – August 7, 2020

July 15 – August 7, 2020

July 15 – August 7, 2020

Nominal value / government bond

RON 100

RON 100

EUR 100

Minimum subscription value

RON 5,000

RON 5,000

EUR 1,000

Yearly interest rate

4%

4,5%

2%

ISIN

RO5ERS91KH22

RO01NZFW1VW3

ROJQC1L9FV15

Symbol

R2208A

R2408A

R2508AE

Maturity

August 12, 2022

August 12, 2024

August 12, 2025

 

The Government bonds will be offered in Romania exclusively to resident and non-resident individuals, except for persons who have not reached the age of 18 until the closing date of the offer inclusively.

The intermediation syndicate of the offer is composed of:  BTCP (Lead Manager) & Banca Transilvania, BCR, BRD.

Also, subscriptions can be made through Eligible Participants, which represent any intermediary (other than BTCP, BCR and BRD) authorized by the Financial Supervision Authority (ASF), which is financial investment company or credit institution accepted as a participant in the trading system of the Bucharest Stock Exchange that signed the commitment regarding the observance of the conditions of the offer and the provisions of the issue prospectus and sent the commitment to the Lead Manager.

The allocation of the government bonds subscribed within the offer will be made on the date of allocation (August 7, 2020), and the final number of government bonds offered will be established by the issuer in consultation with the intermediation syndicate. The orders related to the subscriptions allocated to investors based on the subscriptions validated by the members of the intermediation syndicate / Eligible Participants will be registered in the trading system of BVB dedicated to public offers (government bonds). The allocation of the government bonds by the intermediation syndicate together with the issuer is mandatory and binding on investors.

The date of the registration of trades corresponding to the Offer will be registered in the BVB’s system, respectively August 10, 2020.

Further information regarding the offer can be found here: 

http://www.bvb.ro/Offers/GovRomaniaIPO_GBonds_2020