Finance Ministry issues new state bonds for the population in Tezaur programme

Anca Alexe 04/03/2019 | 08:18

Romanians can subscribe to four new state bond issuances as part of the Finance Ministry’s Tezaur programme starting Monday, March 4, according to a statement by the Ministry.

State bonds have maturities at 1, 2, 3 and 5 years and annual interest rates of 3.5, 4, 4.5 and 5 percent, respectively. Revenues obtained will not be subject to tax.

The state bonds can be purchased between March 4-22 from State Treasury units, until March 21 through the Post Office network in urban areas, and until March 20 in rural areas.

Individuals aged 18 on the date of subscription are eligible.

“Investors have the option to cancel their subscription by submitting a cancellation request in the subscription period. After this period, subscriptions can no longer be cancelled. State bonds are de-materialized and are worth RON 1 each. Interest rates are payable on the dates noted in the issuance prospect,” the Finance Ministry notes.

State bonds issued in the Tezaur programme are transferrable and can be purchased in advance. In case of owner death, the property right is transferred to heirs.

The Finance Ministry says that bonds will continue to be issued throughout 2019, with three-week subscription periods every month. Maturities will be established based on the interest shown by investors.