The Ministry of Finance has plans to issue state bonds valid for seven years. The first auction was set for April 21 this year, IPN reports.

According to the Ministry, the elements of the given issue of state bonds and the indicative volume of the issue, the annual interest rate, the interest payment period and the maturity date will be made public five days before the auction on the Ministry’s website in the section Official communiqués concerning placing of state securities.

The issue of state bonds valid for seven years will be a major step towards complementing the yield curve, alongside the state bonds valid for two, three and five years that are issued now by the Ministry of Finance.

They will also be a reference point for setting the price of long-term instruments (loans, municipal bonds) and for developing other new ones.

The resident and nonresident private individuals and legal entities can take part in auctions to buy state securities only through the agency of banks-primary dealers.