Approval of the Prospectus for the Primary Public Offer of Bonds Issued by the Municipality of Costești

REPUBLIC OF MOLDOVA NATIONAL FINANCIAL MARKET COMMISSION

DECISION

16 September 2025 | No. 45/4

On the approval of the prospectus for the primary public offer of bonds issued by the Municipality of Costești

Following the examination of the application submitted by the Municipality of Costești (registered with the National Financial Market Commission (CNPF) under No. 6536 on 03.09.2025), as well as the accompanying documents presented in full volume on 15.09.2025 (registered with CNPF under No. 6810),

on the basis of Law No. 419/2006 on the public sector debt, state guarantees, and state refinancing, Articles 14 and 15 of Law No. 171/2012 on the capital market, Articles 8 letter k), 20 paragraph (1), and 22 paragraph (3) of Law No. 192/1998 on the National Financial Market Commission, the Instruction on the procedure for registering bonds issued by local public administration authorities (CNPF Decision No. 18/1/2018), and points 16, 19, and 21 of the Regulation on the organization and functioning of CNPF (CNPF Decision No. 57/11/2022),

The National Financial Market Commission DECIDES:

1. The prospectus for the primary public offer of registered, dematerialized, non-convertible bonds, guaranteed by the revenues of the administrative-territorial unit, issued by the Municipality of Costești (IDNO 1009601000108, MD-6813, Ialoveni district, Costești village, Ștefan cel Mare Street 115), is approved. The total volume is 4,500,000 MDL, consisting of 45,000 units, with a nominal value of 100 MDL per bond. The bonds are divided into three classes of 15,000 units each, namely:

• Class I (circulation term of 2 years, fixed interest rate of 7.50% per annum, ISIN code MD2004000084);
• Class II (circulation term of 3 years, fixed interest rate of 7.70% per annum, ISIN code MD2004000092);
• Class III (circulation term of 4 years, floating interest rate connected to the weighted average effective rate for state securities (Treasury Bills) with a maturity of 182 days over a period of 6 months preceding the coupon payment date + a fixed margin (0.5%), ISIN code MD2004000100), with semi-annual coupon payments.

2. The duration of the primary public offer of bonds as stated in the prospectus shall be 14 calendar days, commencing no later than 5 working days from the date of publication of the offer announcement.

3. Allocation shall take place according to the "pro-rata" criterion, in accordance with the provisions of the prospectus for the primary public offer of bonds, with the mandatory subscription based on the "lot" principle (one lot consisting of one bond of each class).

Ștefan cel Mare și Sfânt Boulevard, No. 77, Chișinău, MD 2012, tel: (373 22) 859 401, www.cnpf.md, e-mail: office@cnpf.md

The method for repaying the bond loan and paying interest is as provided for in the prospectus for the primary public offer of bonds.

4. The responsibility for the data and information included in the prospectus for the primary public offer of bonds lies entirely with the bond issuer, while the responsibility for the conduct of the offer lies with the Public Offer Intermediary (Commercial Bank "Moldova-Agroindbank" SA).

5. The issuer shall notify the CNPF of the results of the offer within no more than 5 working days from the date of closure of the issuance within the framework of the public offer.

6. Control over the execution of this Decision is assigned to the Capital Market Department.

7. This Decision may be contested by filing a preliminary application to the CNPF (MD-2012, Chișinău, Ștefan cel Mare și Sfânt Boulevard, No. 77) within 30 days from the date of notification.

8. This Decision enters into force on the date of adoption, is communicated to the addressee in accordance with the legislation, is published in the Official Monitor of the Republic of Moldova, and on the official website of the CNPF (www.cnpf.md).

[Signature]

Dumitru BUDIANSCHI, PRESIDENT