“Republic” bonds get off to good start
The Finance Ministry has announced that orders for the special “Republic” bonds, issued to mark the centenary of Czechoslovakia late last year have exceeded 3 billion Czech crowns. A second issue of the bonds has already come on the market.
Minister Schillerová, told the news site Novinky she greatly welcomed the interest from the public, noting that citizens clearly viewed the Czech state as a trusted partner and the bonds as a safe investment.
The minister has set her sights high, planning three issues of the bonds and saying that orders to the tune of 80 billion crowns would be a “very good result”. This would roughly equal five percent of the overall state debt. However the minister did not specify a timeframe for the set goal.
The second issue of the bonds went on the market on this week, with people able to place orders until March 15th. The third issue is planned for March 18th until June 14th.
State bonds for households were reintroduced in 2011 by then finance minister Miroslav Kalousek and between 2011 and 2014 they sold to the tune of almost 106 billion crowns. In the years that followed people gradually collected their investments and only around 5.2 billion worth of the original bonds remain in public hands.