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EuroMTS Limited is pleased to announce that, following the accession of Bulgaria and Romania to the European Union on January 1st 2007, the euro-denominated benchmark bonds issued by these two countries are eligible for listing on the NewEuroMTS market.
Once listed, these bonds will enjoy the same liquidity advantages as the bonds of other Central European countries in the EU, which are not yet part of the euro area and whose benchmark euro-denominated bonds are already listed on NewEuroMTS. This list of issuers currently includes Hungary, Poland, the Czech Republic, Lithuania, Slovakia and Cyprus.
Since the inception of NewEuroMTS, 26 market makers have committed to trading rules and the establishment of a liquidity pool for all benchmark bonds listed on this market segment. These rules and liquidity conditions will apply to the same class of bonds issued by Bulgaria and Romania once listed, benefiting both the issuers and market participants alike.
“The enlargement of the EU has political effects and other important consequences for European Financial Markets,” said Gianluca Garbi, Chief Executive Officer, EuroMTS Limited. “Including Bulgarian and Romanian euro-denominated benchmark bonds on the European Union Market for foreign currency issuance represents another important step toward Capital Market integration, which benefits investors, intermediaries, and issuers.”
Mr. Bogdan Dragoi, Secretary of State for the Treasury and Public Debt Department in the Ministry of Public Finance of Romania, stated: “The listing of our euro-benchmark bonds on NewEuroMTS is a natural part of our entry into the European Union. In line with the objectives of our accession, NewEuroMTS will provide access to MTS’s unique network of euro-sovereign investors across Europe and elsewhere, which will significantly benefit our debt program.”
“Our experience with the MTS platform, through our prior listing on EuroGlobalMTS, has been that it provides the highest level of transparency and liquidity,” commented Margarita Glaveva, Head of Debt Issuance in the Ministry of Finance, Bulgaria. “NewEuroMTS will provide a new platform for us to work closely with international dealers and further improve the trading conditions of our debt.”
