the second public offer program

smart and secure investment
floating
20 000 MDL
100 000 000 MDL
monthly
20 days
3 years
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

  • 1 bond = 20 000 MDL
  • 5 000 bonds = 100 000 000 MDL

subscription period

20 days

the coupon rate and the periodicity of the reference rate change

  • floating- consisting of Reference Rate + Fixed Margin set by class (II, III, IV, V, VI, VII), where:
  • reference rate - weighted average 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 by the date corresponding to the first day of the offer period (subscription period);
  • fixed margin set by classes: II: (-1.0%); III: (-0.5%); IV: 0.00%; V: 0.5%; VI: 1.0%; VII: 1.5%.

 

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

–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

 

analizing the prospectus

the public offer prospectus and related information, available on maib.md

contract signing

the subscription application is submitted for the procurement of corporate bonds, and the bonds subscription contract is concluded

payment of subscribed bonds

the funds are transferred from the investor’s account to the special account of the subscribed bonds

obtaining bonds ownership

at the time of transferring the new securities (bonds) issued from the bank account to the investor's securities account, according to the list of subscribers sent by maib to the Single Central Depository

receipt of coupon and investment amount

the coupon is paid monthly for 3 years, and at maturity, the amount of the initial investment is paid

filling in the annual income tax return

according to the Fiscal Code, coupons obtained from holding bonds represent sources of taxable income

details

Information on registered corporate bonds issues

Issue registration date

Subscription period

Coupon rate for the first year

First year coupon payment dates

Bonds class

ISIN code

11.01.2024

04.12.2023-
26.12.2023

5.46%
(4.46+1%)

11.02.2024;11.03.2024;
11.04.2024; 11.05.2024;
11.06.2024; 11.07.2024;
11.08.2024; 11.09.2024;
11.10.2024; 11.11.2024;
11.12.2024; 11.01.2025;

VI

MD1004000052
(1st issue)

21.02.2024

18.01.2024-
06.02.2024

4.88%
(4.38+0.5%)

21.03.2024; 21.04.2024;
21.05.2024; 21.06.2024;
21.07.2024; 21.08.2024;
21.09.2024; 21.10.2024;
21.11.2024; 21.12.2024;
21.01.2025; 21.02.2025

V

MD1004000060
(2nd issue)

03.04.2024

29.02.2024-
19.03.2024

4.69%
(4.19+0.5%)

03.05.2024; 03.06.2024;
03.07.2024; 03.08.2024;
03.09.2024; 03.10.2024;
03.11.2024; 03.12.2024;
03.01.2025; 03.02.2025;
03.03.2025; 03.04.2025.

V

MD1004000078
(3rd 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%

public offering prospectus

maib corporate bonds guide

application for bonds subscription

bonds subscription contract

 

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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