EBRD contributes 30% to BCR’s €200mn bond issue

By bne IntelliNews May 21, 2021

The European Bank for Reconstruction and Development (EBRD) placed RON300mn (€60mn) as part of the RON1bn issue launched by Romania’s second-biggest lender, Banca Comerciala Romana (BCR), part of Erste Bank Group, Ziarul Financiar daily reported quoting bank officials.

The issue, launched under a private placement procedure and registered with the Bucharest Stock Exchange (BVB) on May 19, will be listed on the exchange towards the end of May.

It matures in 2028 and carries a 3.9% coupon, meaning that it most likely was issued at a premium.

The issue was operated not for liquidity purposes, but for regulatory purposes, BCR’s head of investment banking Ioana Tanase explained.

“We need to show that we can be independent of shareholders in terms of funding sources,” she said.

BCR raised RON1bn from institutional investors, such as pension funds, EBRD and IFC, even if on the liquidity side the stock of deposits exceeds by €4bn that of loans.

"We have a mix of shareholder support and independence in that we have the ability to attract independent sources from the market. It will always be a combination of the two. BCR issued another RON600mn bond in December 2019, listed at BVB as well, which will not be repaid in advance,” said Tanase to Ziarul Financiar.

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Romania’s BRD bank reports smaller profit but strong lending in Q1

BRD Groupe Société Generale group, which operates Romania's fourth-largest bank by assets, reported its net profit dropped by 4.6% y/y in Q1, but said ... more

APS, EBRD buy €400mn sub-performing Romanian loans from Piraeus

The European Bank for Reconstruction and Development (EBRD) announced that alongside debt recovery specialist APS it is taking over a ... more

Turkish Deniz Bank stops opening Russian accounts

One of the largest Turkish banks DenizBank has significantly tightened the conditions for opening accounts for Russian nationals since the beginning of 2024 and has practically stopped approving such ... more

Follow Us On

Most Read

  1. Shocking trial of ex-minister has shifted domestic violence attitudes in Kazakhstan, says brother
    6 days ago
  2. RAGOZIN: Exhausting Russia, strategies and fantasies
    5 days ago
  3. Live fish fall from the sky in Central Iran - video
    3 days ago
  4. Russia is producing weapons at a record pace, and Ukraine’s partners are trying to increase support for Kyiv
    7 days ago
  5. Turkey reportedly still loading Azerbaijani oil for Israel despite “total trade ban”
    3 days ago
  1. Saudi Arabia to scale back plans for Neom city
    28 days ago
  2. Iran vs Israel: Who is better equipped for war?
    25 days ago
  3. Leading emerging markets move rapidly up World Bank’s PPP GDP and FDI confidence rankings
    29 days ago
  4. Albanians campaign on social media to keep bus bridge created in freak accident
    2 years ago
  5. Ukraine's birth rate plummets to 300-year low as country’s population collapses
    21 days ago

Reports

Dismiss