Romania’s Finance Ministry launches new TEZAUR bonds with interest rates up to 7.15%

Romania's Finance Ministry has opened a new TEZAUR government bond issue, offering annual interest rates of up to 7.15 percent.

The subscription period runs from September 7 to October 2. The bonds have maturities of one, three and five years, with annual rates of 6.20 percent, 6.75 percent and 7.15 percent, respectively. The ministry said the income is tax-free. The bonds have a nominal value of one leu and are issued in dematerialized form.

Investors can buy the bonds through Ghișeul.ro from September 7 to September 30. Individuals registered in the Private Virtual Space can subscribe online through Treasury units from September 7 to October 1. The online process includes opening a subscription account, subscribing to the bonds and transferring money from that account to a bank account.

The bonds are also available at Treasury offices through October 2. Romanian Post outlets can sell them in urban areas through October 1 and in rural areas through September 30. Eligible investors must be at least 18 years old on the subscription date.

The ministry said TEZAUR bonds can be transferred and redeemed early, while investors can make one or more subscriptions during the issue period. They can cancel subscriptions only during that period by submitting a request. The money raised will finance the budget deficit and refinance public debt.

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Income earned from investing in government securities issued by the Ministry of Finance is tax-free.