Bonds issed by Chisinaun city hall to be placed by commercial bank

Chisinau, 15 July /MOLDPRES/ - The Chisinau city hall and Moldova-Agroindbank have signed a contract on the providing of services of intermediation to the subscription/placement of the issuance of municipal bonds.  

The commercial bank won the tender started by the Chisinau city hall on the intermediation of the issuance of municipal bonds for the alternative financing of the city hall’s projects.

Thus, the bank will provide the support needed for the development of the mechanism of financing through the issuance of transferable securities, which will allow attracting investors through the capital market, as well as diversifying instruments of investment in conditions of maximal transparency.

According to the Chisinau general mayor, Ion Ceban, following the contract’s signing, decision-makers started working out the plan, services of intermediation to the subscription and placement of municipal bonds. ‘’As a result of this process, investors will have increased interest and certainty that the money will be used for the purchasing of the public transport for the Moldovan capital,’’ Ceban said.    

The municipal bonds represent transferable securities issued by cities or other local administrative and territorial forms. The local authorities can make issuances of municipal bonds for capital investments or refinancing of an earlier borrowed long-term debt, also for capital investments.  

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