EBRD buys Bucharest City Hall bonds with EUR 75 mln
The European Bank for Reconstruction and Development (EBRD) has invested EUR 75 million in bonds issued by the Bucharest City Hall.
The municipality has launched last week EUR 500 million worth of bonds on the Bucharest Stock Exchange, at an average yield of 3.98%. It was the first listing of municipal bonds on the Bucharest bourse.
EBRD has focused on bonds with longer maturities, where it estimated that the demand would be weaker.
“The bank has been extremely active in supporting the development of the capital market in Romania by investing in bonds in lei,” reads an EBRD press release.
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