Bacau and Oradea to sell $7m bonds

Two public offerings of municipal bonds issued by Oradea and Bacau, worth 240bn ROL ($7 million), will be simultaneously available next week. Two years ago, issuers would have been wary of selling their bonds at same time as other issuers, because investors were hard to find. This, however, is no longer the case. “The municipal bonds market has developed. A year ago, it was very hard to sell two bond issues at the same time. In addition, Oradea’s municipal bond issue is the largest released so far,” stated Simona Constantinescu, chairperson of BCR Securities, the broker of both issues. Bacau’s issue, worth 89.5bn ROL, began on Monday and Oradea’s is due to begin on June 14. Both issues are scheduled to close on June 18. Both may close sooner, however, if they become fully subscribed earlier. ZF