Bucharest City Hall to sell bonds worth EUR 498 million
The Bucharest City Hall wants to attract up to EUR 498 million by issuing bonds with maturities of 3, 5, 7 and 10 years, according to market sources.
The issuance will amount to EUR 124 million for each maturity type, and will be due by May 4, 2018, May 4, 2020, May 4, 2022, and May 4, 2025, reports local Mediafax.
In November last year, the Bucharest City Hall announced that it intended to issue lei-denominated bonds, which will be listed on the Bucharest Stock Exchange.
In 2005, the Bucharest City Hall borrowed EUR 500 million from the external market to build the Basarab overpass, acquire new trams and revamp the urban infrastructure.
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