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New issue of state bonds to be traded on BVB on Friday

he Bucharest Stock Exchange (BVB) on Friday is to launch a new issue of benchmark state bonds on the regulated market, to carry a 5-year maturity. The total value of the issue will reach 152.19 million lei, according to the BVB, with the issuer being the Ministry of Public Finance (MFP).

The issue, wearing the symbol B1403A, includes 15,219 bonds, with the nominal value of 10,000 lei, falling due on March 5, 2014.

The MFP sold these bonds to primary dealers (banks) on January 8, at an average yield of 12.99 percent per annum, according to data released by the Romanian National Bank (BNR).

MFP rejected such purchase offers submitted by commercial banks for the benchmarks, exceeding a required yield level of 13 percent.

The issue of state bonds was worth 500 million lei, with the coupon rate standing at 11 percent.

The total offer of the banks stood at 732.15 million lei. Submitting offers in the tender there were 12 primary dealers - ABN Amro bank, Alpha Bank Romania, BRD- Groupe Societe Generale, Romanian Commercial Bank (BCR), Banca Transilvania, Bancpost, Citibank Romania, the Romanian Savings Bank (CEC), ING, MKB Romexterra, Raiffeisen Bank and UniCredit Tiriac Bank.

 

Sursa: http://www.rompress.ro

Tags: bonds issue bvb state mfp ing cec bcr brd bnr

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