Public announcement by the Assistant Minister of Finance for treasury sector Dušan Perović on occasion of premature payment of foreign currency savings bonds

After evaluating the interests of foreign currency savings bonds owners, interested in collecting their bonds before deadline, the Government of Montenegro had, as proposed by the Ministry of Finance, legislated the Decision of buy-off of citizens foreign currency savings bonds due in 2016 and 2017, for the maximal price of 0.50 EUR per bond with nominal value of 1.00 EUR. This decision had enabled the interested owners of bonds to, under the most favorable conditions, sell their bonds before due date, which cannot be cashed in the stocks and bonds market due to the lack of demand and low prices of bonds. This decision, on one hand, provides the owners of bonds for the foreign currency savings invested with the authorized banks on the territory of Montenegro, as well as with the authorized banks with headquarters outside Montenegro the shorter deadline of bonds due for two years, and on the other hand its implementation influences decrease of domestic debt...

The Ministry of Finance had, for the purpose of selection of participants in stocks and bonds market brokers, by direct gathering of bids (shopping method) had invited all participants in stocks and bonds market to deliver their bids on costs of implementation of premature buy-off of bonds OB16 and OB17. Fifteen broker companies had delivered their bids, and three of those were present on opening of sealed bids. The most favorable conditions for bonds buy-off was delivered by Basileus broker a.d. Podgorica, which was granted a contract on citizens foreign currency savings bonds buy-off by the Ministry of Finance. It is necessary for the foreign currency savings bonds owners, interested in selling their bonds for years 2016 and 2017 before due date for the price of 0.50 EUR per bond, go with the proof of ownership over bonds (extract from Central depository agency) to broker and sign a sales contract, who will then offer them in the stocks and bonds market. Premature buy-off of the citizens foreign currency savings bonds was started mid-May, and so far 77,980 bonds with nominal value of 1.00 EUR was bought, i.e. the amount of 77,980.00 EUR, where 37,820 bonds due in 2016 with nominal amount 1.00 EUR or total amount 37,820.00 EUR and 40,160 bonds due in 2017 with nominal amount 1 EUR or total amount 40,160.00 EUR were bought.