Catalan Government increases bonds to 2,500 million

As a result of the Catalan Government’s success in bond sales, they have made the decision to increase the overall bond amount to 2,500 million euros. The bonds can be purchased until the 12th of November by private citizens.


October 27, 2010 10:57 PM

Barcelona (ACN).- The Catalan Ministry of Finance has made the decision to increase their bonds from 1,890 million to 2,500 million euros. The bond increase was already a possibility, announced in the initial launch, last Friday. Citizens can buy bonds until the 12th of November. According to the Ministry of Economy and Finance, if the demand exceeds the offer, a proportional system will be implemented which will guarantee full quantities for the smaller volume petitions from participating banks. This initiative was taken as an answer to the difficulties in getting credits from the international financial markets. The initiative has generated a wide controversy in Catalonia, in the middle of the electoral climate.

The bonds, which have a 4.75% 1-year interest rate, can be purchased in any of the 23 financial entities that are in collaboration with the Catalan Government. Investors can request a minimum of 1,000 euros and a maximum of 2 million euros in bonds. The scheduled day to get the cash by the Catalan Government is the 19th of November.