the second public offer program
about
maib corporate bonds
Corporate bonds are financial instruments issued by maib, through which the bank attracts reimbursable monetary resources from citizens in the form of 3-year investments.
The second public offer program
The second public offering program is launched on 4 December 2023. Under this program, the issuer will continuously, over 12 months, make cyclical placements of Corporate Bonds of 6 (six) different classes in 10 consecutive issues of the Bonds having a subscription rate of at least 1% for each issue.
Advantages
- The issuance of corporate bonds is allowed for circulation on the secondary market of the Moldova Stock Exchange;
- The financial means to be obtained are secured from maib’s future income;
- The coupon is more attractive compared to other financial instruments;
- The coupon is paid monthly, and then at maturity, the initial investment is paid out;
- The investor can open a maib card, free of charge, to receive the coupon;
- Allows diversification of the investment portfolio, thus representing an additional source of income;
- Corporate bonds can be used as collateral for other monetary and financial instruments;
- The issue is conducted through a professional capital market participant;
- Voluntary early repayment of bonds at the nominal value at the investor’s request;
- The repayment of the investments (principal) and the payment of the coupon is confirmed by the financial statements and maib forecasts.
Corporate bonds can be contracted in any maib branch by individuals persons, residents and non-residents of the Republic of Moldova.
Before subscribing, reading the public offering prospectus is necessary to get acquainted with all the essential information.
offer program 10 issuances of 5,000 bonds each, a total amount of 1,000,000,000 MDL |
term of circulation 3 years from the issuance registration date |
minimum / maximum investment per issuance
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subscription period 20 days |
the coupon rate and the periodicity of the reference rate change
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coupon payment frequency monthly, on the investor's card or current account |
voluntary redemption conditions the bondholder has this right (maximum 250 bonds per issue, per person), and the redemption value of the bond will be the nominal value |
contracting bonds at any maib branch or through the Corporate Investments Department, located in Chişinău Municipality, 127, 31 august 1989 Stret, maib park, 7th floor by phone: email: |
rate
Coupon rate
Coupon size calculation formula:
where:
NV – nominal value of a bond
IRn –interest rate corresponding to period n
CPn –the coupon period, the number of days corresponding to the period for which it is paid
n –serial number of the coupon
Reference rate calculation formula
Average weighted interest rate on new deposits attracted in national currency total on the banking sector, with maturity from 6 to 12 months, published on the official website of the NBM www.bnm.md on the date corresponding to the first day of the offer period (subscription period).
Cn = reference rate + fixed margin set by class: II: (-1,0%); III: (-0,5%); IV: 0,00%; V: 0,5%; VI: 1,0%; VII: 1,5%;
How the coupon is paid:
reference date (T-3)3 business days before coupon payment date |
coupon payment date (T)monthly after the bonds issue date, with monthly periodicity |
payment periodicity (T+3)starting with the coupon payment date within a maximum of 3 working days |
How does the maib corporate bonds issuance process take place
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details
Information on registered corporate bonds issues
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Issue registration date |
Subscription period |
Coupon rate for the first year |
First year coupon payment dates |
Bonds class |
ISIN code |
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11.01.2024 |
04.12.2023- |
5.46% |
11.02.2024;11.03.2024; |
VI |
MD1004000052 |
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21.02.2024 |
18.01.2024- |
4.88% |
21.03.2024; 21.04.2024; |
V |
MD1004000060 |
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03.04.2024 |
29.02.2024- |
4.69% |
03.05.2024; 03.06.2024; |
V |
MD1004000078 |
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23.05.2024 |
15.04.2024- |
4.51% |
23.06.2024; 23.07.2024; |
V |
MD1004000086 |
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05.07.2024 |
30.05.2024- |
4.48% |
05.08.2024; 05.09.2024; |
VI |
MD1004000094 |
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13.08.2024 |
11.07.2024- |
4.46% |
13.09.2024; 13.10.2024; |
VI |
MD1004000102 (6th issue) |
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13.09.2024 |
15.08.2024- |
4.45% |
13.10.2024; 13.11.2024; |
VI |
MD1004000110 (7th issue) |
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25.10.2024 |
19.09.2024- |
4.37% |
25.11.2024; 25.12.2024; 25.01.2025; 25.02.2025; 25.03.2025; 25.04.2025; 25.05.2025; 25.06.2025; 25.07.2025; 25.08.2025; 25.09.2025; 25.10.2025 |
VI |
MD1004000128 (8th issue) |
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29.11.2024 |
31.10.2024- |
4.42% |
29.12.2024; 29.01.2025; 29.02.2025; 29.03.2025; 29.04.2025; 29.05.2025; 29.06.2025; 29.07.2025; 29.08.2025; 29.09.2025; 29.10.2025; 29.11.2025 |
VI |
MD1004000136 (9th issue) |
*The coupon rate for the 2nd and 3rd year will be the weighted average interest rate on new deposits attracted in national currency in total on the banking sector, with a term from 6 to 12 months, published on the official website of BNM www.bnm.md to the date that corresponds to the first day of the offer period (subscription period) and is established after one year and two years, respectively, on the same month and day as the issue date + Fixed Margin established by class: II: (-1.0%); III: (-0.5%); IV: 0.00%; V: 0.5%; VI: 1.0%; VII: 1.5%
application for bonds subscription
Rights and privileges granted to bondholders
- the right to receive from maib the nominal value of the bond after the maturity period expiration and the right to withdraw the bond from the market;
- the right to receive the related coupon in the amount and within the terms established in the prospectus;
- the right to sell the bonds on the secondary market, according to the legislation, including on the regulated market of the Moldova Stock Exchange, through accredited members of the regulated market;
- the right of the bondholder to request the redemption of the bonds held until the maturity date by maib (the right to voluntary redemption).
frequent questions
Corporate bonds are financial debt instruments through which maib attracts monetary resources from citizens and businesses.
The corporate bond issuer is B.C. "MAIB" S.A.
The process by which corporate bonds are purchased.
Maib does not charge certain commission fees from investors when subscribing to bonds through the primary public offering.
During the working days of the offer validity period. Subscribers will submit the application at any maib branch or at the Corporate Investments Department (mun. Chisinau, str. 31 august 1989, no. 127, maib park, et.7) and will conclude a bond subscription contract, signed between three parts, in 2 (two) copies, between the subscriber and the issuer.
The bidding process and the signing of the documents will take place at the issuer's headquarters.
Starting with January 1, 2024, according to art. 901, par. 37 of the Tax Code of the Republic of Moldova, income obtained as interest on corporate securities is taxed at 6%. As an issuer, maib will charge a tax of 6% of the interest paid for the benefit of resident individuals. Beneficiaries of the income are obliged to declare and pay the respective tax.
The risk of default on contractual obligations. The inability of the issuer to honour its commitments to the investor regarding the payment of the coupon and/or the principal (investment). In this case, the bondholder can request early redemption of the bonds.
Yes, until the registration procedure is completed. The investor ensures the availability of funds on the special payment account for the issue until the expiration date of the subscription period.
The Central Securities Depository Moldova maintains the Register of Bond Holders. The bonds are issued in dematerialized form by registering in the account.
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