A consortium formed of BCR, BRD, Raiffeisen and Banca Transilvania will sell state bonds to the population
Source: www.mfinante.gov.ro

The consortium of banks consisting of BCR, BRD - Groupe Societe Generale, Banca Transilvania and Raiffeisen Bank was selected to provide securities brokerage and sale of state bonds for population.

Moreover, according to the ministry of Public Finance, the four financial institutions will not charge any cost to individuals for the purchase of government securities if the subscription is made through them.

The ministry will be paying each intermediary an administrating commission of 0.2 % applied to the volume of sales of state bonds on the primary market by each bank.

For transactions on the secondary market through the Bucharest Stock Exchange BVB, the maximum commission perceived by banks is 0.1% of the value of the transaction.

BCR is going to be the lead manager and paying agent. The state bonds issued will be worth 100 million RON, and a bond will be worth 100 RON. The date of the release and the subscription period, the conditions of the issuing, and the terms will be publicly announced on www.mfinante.ro, section "Programul Fidelis", "editia Centenar".

by Mihaela Constantin

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