Romanian investors bought only about 60% of the government bonds issued on the local stock market between June 8 and June 19 this year.

The Finance Ministry issued state bonds worth RON 100 million (EUR 22.5 million) for individuals. The subscriptions were only EUR 13.3 million, as investors placed orders for 60,000 of the total 100,000 titles, reports local Ziarul Financiar. One title was priced at RON 1,000 (EUR 225).

The investors could also choose the bond’s interest rate, anywhere between 1.75% per year and 2.15% per year. According to the issuance prospectus, if individuals subscribed less than 100% of the total titles, the yield on the bonds would be 2.15%.

The bonds have a maturity of two years. Romanian banks BCR, BRD, and Raiffeisen Bank managed the bond placement.

editor@romania-insider.com