Sângera, Ceadâr-Lunga city halls issued first municipal bonds, earned 7.5 million lei

Chisinau, 29 September /MOLDPRES/- Sangera city hall traded first municipal bonds on the Moldovan Stock Exchange and earned financial means worth 4.5 million lei, which it will use to build an aqueduct.

The municipal bonds of Sângera city hall issued with the support of the Independent Analytical Center Expert-Grup and mediated by a private commercial bank, can be traded starting yesterday within the platform of the Multilateral Trading System administered by the Stock Exchange of Moldova. Along with the municipal bonds of the city of Sângera, bonds issued by Ceadâr-Lunga city hall were also traded.

The municipal bonds, issued by the Local Public Authorities, were registered in the Register of securities issuers based on the decisions of the National Commission of the Financial Market of August 25 this year.

The municipal bond issues were fully subscribed in less than a week from the launch of the public offers, in total being received 37 requests from individuals and legal entities. The funds in the total amount of 7.5 million lei, collected from investors will have as destination the development of local infrastructures and the increase of the comfort level of the population of the two localities. Thus, Sângera City Hall with the funds attracted in the amount of 4.5 million lei will build an aqueduct in the Sângera-Revaca neighborhood and Ceadâr-Lunga City Hall will use the funds attracted in the amount of 3 million lei to implement a project to improve road infrastructure.

The launch of the first municipal bonds in the Republic of Moldova is initiated by the Independent Analytical Center Expert-Grup within the project Local government bonds - as a measure to increase local autonomy, funded by the Embassy of the Kingdom of the Netherlands in Chisinau.

Photo: bizlaw.md