Prospectus for the issue of government securities to the public

In the Official Gazette with the number 1046 of 28 October 2022, the MF Order no.3957 of 27 October 2022 was published regarding the prospectus for the issuance of government securities intended for the population, through the operational units of the State Treasury and through the postal sub-units of the network of the National Company ”Posta Romana” – S.A., within the TEZAUR (Treasury) Programme, for the month of November 2022.

In order to finance the budget deficit and to refinance the public debt, the prospectus for the issuance of government securities intended for the population, through the operational units of the State Treasury and through the postal sub-units of the network of the National Company ”Posta Romana”(‘Romanian Post”) – S.A., within the TEZAUR Programme, for the month of November 2022, is approved, as provided for in the annex which is an integral part of this Order.

For the purposes of this prospectus, the expressions or terms used have the meaning of the Order of the Minister of Public Finance no. 3.139/2017 on the approval of the issuance of government securities intended for the population, through the operational units of the State Treasury, within the Tezaur Programme, with subsequent amendments and additions, and of the Order of the Minister of Public Finance and of the Minister of Communications and Information Society no. 2.311/452/2018 on the approval of the intermediation of the sale, collection of subscriptions and payments related to government securities intended for the population through the postal sub-units of the network of the National Company “Posta Romana” – S.A. within the Treasury Programme, with subsequent amendments and additions:

Romanian Tax Code – approved by Law no. 227/2015 on the Tax Code, with subsequent amendments and additions;

  • interest – the amount of money representing the annual interest payable by the issuer, in accordance with this prospectus, on a government security corresponding to the relevant interest period and which it undertakes to pay to the investor on the interest payment date;
  • issuer – Ministry of Finance or MF;
  • issue price – the amount paid by investors for a government security subscribed, net of any fees;
  • RON or leu – the Romanian leu, the new national currency of Romania, following the denomination of the Romanian currency on 1 August 2005;
  • working day – any day, except Saturdays or Sundays or other legal holidays in Romania.

The Ministry of Finance announces the launch of the following issues of government securities for the population within the Treasury Programme, with the following characteristics:

Issue code

Date of commencement of the term of the subscription

date of expiry of the subscription

Date of subscription

Due date

Maturity no. of years

Number of years Annual interest rate in %.

0105

1.11.2022

25.11.2022

29.11.2022

29.11.2023

1

8,70%

0106

1.11.2022

25.11.2022

29.11.2022

29.11.2024

2

9,15%

 

Subscriptions made through postal subunits in the network of the National Company “Posta Romana” – S.A. can be made every day during the subscription period, according to the working hours with customers, with the following specifications regarding the end of the subscription period:

  • in urban areas, it shall be closed one working day earlier than the last day of the subscription period;
  • in rural areas, it ends two working days before the last day of the subscription period.

The minimum amount of a subscription is 1 leu, representing the issue price of a government bond. Subscriptions for fractions of a government bond are not accepted.

An investor may make one or more subscriptions in an issue.

The funds obtained by the Ministry of Finance as issuer as a result of the issue of government securities will be used to finance the budget deficit and refinance the public debt.

The government securities are issued in accordance with Romanian law.

The State Securities are registered, denominated in lei, issued in dematerialized form by book entry, each with a nominal value of 1 leu, and give equal rights to investors.

In the event of death, the right of ownership of the state securities is transferred to the heirs, who present the legal documents attesting their status as heirs.

Investors are entitled to:

  1. a) repayment of the nominal value of government securities on the maturity date corresponding to the number of government securities held; and
  2. b) payment of interest on government securities on each interest payment date corresponding to the number of government securities held.