EUROPEAN UNION: Clearstream to Offer Settlement and Custody for Municipal Bonds in Romania

Wednesday April 22 2015

Clearstream has announced it is to offer settlement and custody for municipal bonds in Romania. Clearstream is the first international central securities depository (ICSD) to offer this service in the country through an indirect link to the Depozitarul Central, the Romanian CSD, via its custodian Bancpost.

The first municipal bond to be accepted will be issued in early May by the city of Bucharest. The bond will be issued in Romanian New Leu (RON) and will be listed on the Bucharest Stock Exchange. There will be several tranches with different maturities, for a total of up to EUR 500 million.

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