For the first time in the history of the Republic of Moldova, seven-year state bonds were issued within the tender contest to place state securities on the primary market, at a fixed annual interest rate of 6.50%, IPN reports, quoting the Ministry of Finance.

The Ministry’s offer was 107% covered, with state bonds to the value of about 75 million lei being issued. The main buyers were the primary dealer-banks and institutional investors.

The Ministry of Finance will issue this financial instrument regularly and will increase its liquidity by reopening operations.

So far the Ministry issued only state bonds with the maturity of two, three and five years, while the bonds maturing in seven years are a major step towards completing the yield curve.