?TK |
5 November 2012
Prague, Nov 4 (CTK) - The Finance Ministry will start offering state bonds for individuals as of Monday and will accept orders through some banks and almost 1,000 branches of postal service provider Ceska posta, that means via nearly 1,400 trading places, till the end of November.
The ministry can cut the period of time when it will offer the bonds. Apart from Ceska posta, the bonds will be offered in some branches of Ceska sporitelna, CSOB, Komercni banka and J&T Banka.
Within the prepared bond issue, the ministry will offer a new type of bonds, namely premium bonds with a 3-year maturity. Yield from these bonds is to reach 2.77 percent annually on average. After the first and the second year, 0.5 percent will be added. Only after the third year will investors gain a 7 percent premium apart from another 0.5 percent.
Besides the 3-year premium bonds, the ministry will on December 12 issue 5-year coupon bonds with annual yield at 3.22 percent and 5-year reinvestment bonds with annual yield at 3.41 percent.
The ministry will also issue 1.5-year discount bonds with a 2.05 percent yield and 7-year anti-inflationary bonds with yield depending on inflation.
In the preceding two bond issues, investors had to buy at least 1,000 bonds, and the situation is the same now.
Experts say that investment into state saving bonds is comparable with the other products offered on the financial market. State bonds are relatively safe for small investors.
Finance Minister Miroslav Kalousek earlier said he would consider sale of bonds for over Kc10bn a success. Under the state debt management strategy, the ministry reckons with sale of bonds for Kc10bn to Kc20bn in the autumn issue.
The first retail bond issue took place a year ago and investors ordered over Kc20bn worth of bonds. The spring issue this year generated around Kc15bn.
The bonds are available for both Czechs and foreigners, civic associations, foundations and churches, among others, and since the spring also regions, towns and public universities can buy them.
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Source: http://praguemonitor.com/2012/11/05/finmin-offering-state-bonds-individuals
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