With their issuance, it will continue a strategic project for the community started 10 years ago and diversify its sources of funding by utilizing the capital market.
The raised funds will be used to continue the project “Provision of sewerage and wastewater treatment in the village of Costesty” to improve the infrastructure.
The public presentation of the project will be held on September 22. Its organizers are Expert-Grup company, together with maib, with the support of the Embassy of the Netherlands. The event will provide a direct dialog with the representatives of the National Commission for Financial Market, Costesti Mayor’s Office and the intermediary bank.
The prospectus of the public offer of bonds, approved by the NCFM, provides for the simultaneous placement on the primary market of 45 thousand bonds with a nominal value of 100 lei each and a total volume of 4.5 million lei, divided into three classes (I, II and III) of 1.5 million lei each. The bonds are issued under differentiated conditions: Class I and II bonds – with a circulation term of 2 and 3 years, respectively, with a fixed interest rate of 7.5% and 7.7%, respectively, paid semi-annually. Class III bonds – with a maturity of 4 years, with a floating interest rate paid and adjusted semi-annually depending on the effective weighted average interest rate on government securities with a maturity of 182 days for the period of 6 months preceding the coupon payment date, plus a fixed margin of 0.5%. The term of primary floatation of the bonds will be 14 calendar days from the date of offer beginning.
The bonds will be offered to all interested individuals and legal entities on condition of subscription based on the “lot” principle (a lot consists of a package of 3 bonds – one bond of each class (I, II and III)).
