World Bank Bonds Issue In Romania, Says ING Bank

The World Bank will issue a bonds issue on the Romanian market over the period August 30th September 12th. There will be 525 million RON divided in 525,000 bonds each with a 1,000 RON face value. The bonds are not

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The World Bank will issue a bonds issue on the Romanian market over the period August 30th – September 12th. There will be 525 million RON divided in 525,000 bonds each with a 1,000 RON face value. The bonds are not guaranteed and dematerialised. The selling price will be equal to the face value which is 1,000 RON. A subscription commission will apply in the amount of 0.3%. The duration of the bonds will be 36 months, with interest at 6.5% per year, payable twice a year. The intermediaries will be ABN Amro Bank and Intercapital Invest (brokerage company).

This is the first foreign supra-national issue in Romania and the bonds will be rated with maximum qualifier “AAA” as communicated by the World Bank. The issue is addressed both to residents and non-residents and the allocation method is pro-rata.

After the closing of the offer the issuer will take the necessary steps to list the bonds at the Bucharest Stock Exchange. “The offer is the biggest ever launched on the Romanian market and represents a positive signal delivered by the World Bank to the Romanian financial market,” says a spokeswoman for ING Bank in Romania. “It also represents a very attractive investment opportunity in terms of return and risk rating for all resident and non-resident investor.”

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