The Romanian Post will be authorized by the Government to trade sovereign bond to the public, and the conditions for the sale and payment of maturity obligations for these securities will be similar to those in force for Treasury units, Ministry of Public Finance (MFP) announced. The indicative loan ceiling for this year is about RON 4 billion.
The bond issues have been conducted so far under the FIDELIS program, through the Bucharest Stock Exchange (BVB) mechanism, and subscriptions have been made through a group of selected banks: BRD Groupe Societe Generale SA, Banca Comerciala Romana SA, Banca Transilvania/BT Capital Partners and Raiffeisen Bank SA.
The issue of state bonds “Fidelis Centenar” started trading on August 5, 2016. Under this program two issues with two-year maturities and interest rate of 2.15 percent per annum were carried out.
Recently, Ministry of Communications and Information Society announced a share capital increase at the Romanian Post, amounting to RON 170 million, RON 153 million being already transferred to the company accounts. This was the first capitalization that the Romanian state, as a major shareholder, did it for the Romanian Post.
The state holds 75 percent of the Post’s shares and investment fund Fondul Proprietatea owns the remaining 25 percent.