IIB to issue bonds to support activities in Romania

IIB to issue bonds to support activities in Romania
IIB members agreed a new long-term strategy at a council meeting in Bucharest earlier this year.
By bne IntelliNews September 4, 2017

The Moscow-based International Investment Bank (IIB) will issue bonds to expand its existing loan portfolio and finance activities in Romania, the bank announced on September 4.

The IIB has already placed bonds on the Romanian market. In September last year, the IIB successfully placed RON300mn (€65.3mn) worth of three-year bonds on the Bucharest Stock Exchange. In October 2015, the IIB carried out its first placement in Romania totalling RON111mn.

The bank has mandated BT Capital Partners and Banca Comerciala Romana (BCR) to act as co-lead managers on the new issue of medium tenor bonds denominated in the Romanian currency and/or potentially euro, it announced in a statement on the Bucharest bourse website.

The co-lead managers will arrange investor meeting and investor calls in Bucharest, as well as in other places in Europe as of September 11. The expected issue timing is the end of September, subject to maket conditions.

The IIB is a multilateral development institution founded in 1970 and reformed in 2012. Its current nine members/shareholders are Bulgaria, Cuba, Czech Republic, Hungary, Mongolia, Romania, Russia, Slovakia and Vietnam, all participating through intergovernmental agreements. In April, 2015, the IIB opened its first European regional office in Bratislava.

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