Cluj County Council has announced the successful completion of the subscription of €75,680,000 of bonds issued by Cluj County in a private placement by the consortium led by BT Capital Partners. The issue was oversubscribed, with cumulative orders for the purchase of 1,216,020 bonds, representing 160.6% of the total issue.

The funds will be used to finance investment projects at various stages of implementation, such as the modernization of county roads, the supply of medical equipment to hospitals, the construction of a new building for the School Centre for Inclusive Education or the restauration of the "Bánffy Castle" historical monument complex in Răscruci. 

Daniela Secară, Managing Director of BT Capital Partners, says: "In a landmark transaction, we led a joint effort to promote and broker Cluj County's first capital market financing. We are particularly proud of the interest of qualified investors and the outcome of the private placement for the issuer. The support and confidence in Cluj County Council to continue and expand its investment program is an example to other local authorities."

The loan has a tenor of 10 years, maturing in 2033 with an early redemption option in 2029.