#GovernmentBonds #Auction #Transaction #MontenegroStockExchangeMse #Banks
The Montenegro Stock Exchange today sold 7.532 bonds worth over 75 million euros, announcing their feat at today’s press conference. The bonds were issued in accordance with the Decision on issuance of government securities, previously adopted by the Government of Montenegro, and the Decision on approval of the prospectus for the public offering of the government bonds, which gave Montenegro 100 million euros.
As MSE explained, this was the most important day in their history.
“The value of bonds issues amounted to EUR 100.000.000 for 10.000 bonds. At the auction, we sold 7.532 bonds, which gave us a turnover of over 75 million euros. According to unofficial information, buyers were mainly banks and insurance companies. All interested parties will have the opportunity to buy bonds tomorrow between 9:30 AM to 2 PM”, executive director of MSE, Gojko Maksimovic, esplained at the press conference.
It is expected that, as he said, that the bond sales will reach over 80 percent.
Despite its record auction, MSE said they are not yet satisfied with the amount, and that they hope tomorrow will be better.
If one buys a bond with a nominal value of EUR 10.000, per annum interest is 400 euros over the next four years, and after this period, the principal amount of 10.000 euros will be repaid.
Total earnings for four years (from accruing interest) for a single bond is 1.601.0959 euros.
Closing of transaction is carried out by members of the Montenegro Stock Exchange, brokerage houses.
Source: Cafe Del Montenegro