First government securities issuance for individuals in Romania since 2005

Romania’s Finance Ministry may launch for the first time in ten years a government securities issue for individuals, starting June this year. The Ministry is trying to start the program in the first half of the year, said Stefan Nanu, head of Treasury, cited by local Mediafax. It will promote the securities through a marketing program which will include presentations in big cities, at the Finance Ministry and the Bucharest Stock Exchange. A consortium of banks consisting of local lenders BCR, BRD and Raiffeisen will broker the issuance. The Finance Ministry has selected the banks based on their distribution network and sales power, said Nanu. A state title will cost RON 1,000 (EUR 225). The bonds will have a value of at least RON 100 million (EUR 22.5 million), a maturity of up to three years and the market interest, which is currently at about 2% a year. The Finance Ministry hasn’t issued state titles for individuals since 2005. editor@romania-insider.com