The National Commission for Financial Markets approved the prospectus for a primary public offer of bonds by Commercial Bank Moldova-Agroindbank under a programme totalling MDL 1.5bn, alongside a set of capital markets authorisation and issuer registry updates. The Board also rejected two pre-litigation requests seeking annulment of earlier National Commission for Financial Markets acts. The bond programme comprises ten tranches of 7,500 registered, dematerialised, non-convertible bonds (classes II to X), each with a three-year term and a nominal value of MDL 20,000, totalling 75,000 bonds and secured by the bank’s own revenues. The coupon is floating and linked to the National Bank of Moldova’s weighted-average rate on new MDL deposits with maturities of 6 to 12 months, plus a fixed margin by class ranging from minus 1.0% (class II) to plus 3.0% (class X), with interest paid monthly. Authorisation for FAGURA CAPITAL was reissued to reflect a change of legal address and the corresponding update in the register of crowdfunding service providers. The issuer register was updated to record additional share issues by JLC (MDL 5,995,976; 107,071 ordinary registered shares; post-issue share capital MDL 74,228,000) and ÎNTREPRINDEREA MIXTĂ FARMACO (MDL 7,280,564; 196,772 ordinary registered shares; post-issue share capital MDL 181,309,990), and to remove MONSATO’s previously issued securities (20,000 ordinary registered shares) following its transformation into a limited liability company. Placement of the Moldova-Agroindbank bonds is envisaged on a continuous basis within up to 12 months from publication of the prospectus, with the reference rate resetting annually on the same month and day as the start of the offer period. The National Commission for Financial Markets also flagged that JLC’s registered issuance exceeds 25% of shares in circulation, meaning shareholders have a statutory right to request the company to repurchase their shares under the applicable legal conditions.
National Commission for Financial Markets 2025-02-27
National Commission for Financial Markets approves Moldova-Agroindbank MDL 1.5bn bond programme and registers JLC and Farmaco capital increases
The National Commission for Financial Markets approved a bond prospectus for Commercial Bank Moldova-Agroindbank, part of a MDL 1.5bn programme, and updated capital markets authorisations and issuer registries. The bond programme includes ten tranches of non-convertible bonds with a floating coupon linked to the National Bank of Moldova's rates. Additionally, the issuer register was updated for JLC and ÎNTREPRINDEREA MIXTĂ FARMACO, while MONSATO's securities were removed after its conversion to a limited liability company.