Invest in Local Development Through Municipal Bonds: Subscription Opens for the Ungheni and Leova Issues

Through their first municipal bond issues, the local public authorities of Ungheni and Leova aim to attract financial resources from the capital market for specific local infrastructure projects. At the same time, citizens and investors have the opportunity to contribute directly to the development of their communities and to earn interest income for the duration of the investment.

The minimum investment is MDL 5,000, and investors can choose between several options:

• 9.5% fixed annual interest for 2 years;

• 10% fixed annual interest for 3 years;

• 4 years - variable interest, adjusted according to the evolution of the market reference rate, plus a fixed margin of 0.5 percentage points.

Interest is paid semi-annually. The nominal value of one bond is MDL 1,000, and the minimum subscription amount is MDL 5,000. 

Subscription runs from 10 August 2026 to 8 September 2026 (the first 2 days, 10–11 August: subscription reserved for individuals, resident and non-resident. From the 3rd day the Offer becomes available to all eligible investors, including legal entities.).If the issue is fully subscribed, the offer may be closed early.

Ungheni intends to raise MDL 10 million to modernise six streets

The funds raised by the Ungheni Municipality City Hall will be used to modernise six streets in the municipality, totalling approximately 25,600 m² of carriageway, under the investment project “Modernisation of local roads in Ungheni municipality”. The issue comprises 10,000 bonds with a nominal value of MDL 1,000 each, and is structured in three classes: bonds with a 2-year term and a fixed interest rate of 9.5%, bonds with a 3-year term and a fixed interest rate of 10%, and bonds with a 4-year term and a floating interest rate, calculated on the basis of the reference rate for 182-day treasury bills, plus a fixed margin of 0.5 percentage points.

Leova intends to raise MDL 9 million to rehabilitate two courtyards

The Leova Town Hall intends to invest in the rehabilitation and modernisation of two courtyards in the town's central district, adjacent to the five neighbouring residential blocks, totalling approximately 1.7 ha of landscaped space. The investments will include: pedestrian alleys, playgrounds, associated lighting, green spaces, street furniture and road infrastructure, under the urban rehabilitation and public space infrastructure development project. The issue comprises 9,000 bonds with a nominal value of MDL 1,000 each, likewise structured in three classes: with a 2-year term and a fixed interest rate of 9.5%, with a 3-year term and a fixed interest rate of 10%, and with a 4-year term and a floating interest rate, linked to the reference rate for 182-day treasury bills, plus a fixed margin of 0.5 percentage points.

Those interested in investing can consult the public offer prospectuses and the full subscription information by accessing the buttons below. They can also contact the Victoriabank team at 030 303 323, 030 303 328 or at valori.mobiliare@vb.md. B.C. Victoriabank” S.A. is the institution providing financial intermediation for the two public offers.

• Terms of issue of the Ungheni Municipality City Hall bonds

• Terms of issue of the Leova Town Hall bonds

Other details can also be accessed here.

Municipal bonds represent an opportunity both for local authorities to mobilise resources for important investments in the community, and for citizens and investors to place their savings in a transparent and attractive instrument. Expert-Grup supported this process through technical expertise and consultancy, contributing to the preparation of the issues and to strengthening the capacity of local authorities to use this financing instrument responsibly.

Other local public authorities that benefited from Expert-Grup's support in issuing municipal bonds are: the Chișinău Municipality City Hall (2022), the Ceadîr-Lunga Municipality City Hall, ATU Gagauzia (2021, 2024 and 2026), as well as the local public authorities of Sîngera (2021), Sireți (2025) and Costești (2025).

See also the press release from the launch event of the public offers here.

The launch of the municipal bond offers took place under the project “Strengthening the Resilience Capacity of Local Public Authorities”, implemented by the Independent Think Tank “Expert-Grup”, with the support of the Embassy of the Kingdom of the Netherlands in the Republic of Moldova.