Romanian municipality Resita will issue EUR 17.2 million (RON 86 million) worth of bonds to support the development plans of the city, which include the reconstruction of a tram line, the rehabilitation of the tram depot, the purchase of ten electric buses, and others.

The bonds will have a ten-year maturity and a variable coupon formed by a fixed spread (still to be decided, but no lower than 0.5pp) and the six-month EURIBOR, which currently is 4.125%, Ziarul Financiar reported.

The seat of Caras-Severin county has ongoing green projects of EUR 110 million. The city plans to co-finance a photovoltaic park with a capacity of 23.8 MW and is aiming to build a new county hospital together with the County Council.

VBM is the consultant for this financing.

This is the first issue of green municipal bonds listed on the Bucharest Stock Exchange.

iulian@romania-insider.com

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