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.
Related Articles
Eurozone manufacturing growth hits four-year high in April but Middle East war drives record price surge
Eurozone manufacturing activity expanded at the fastest pace in nearly four years in April as factories rushed to build safety stocks ahead of expected price rises and supply shortages linked to the ... more
Non-performing loans hit historic low in CESEE, but early warning signs emerge, says EBRD
Non-performing loans (NPLs) in central, eastern and south-eastern Europe (CESEE) fell to their lowest levels since the global financial crisis in 2024, but early indicators suggest rising risks ... more
EC clears €200mn capital increase at Romanian state-owned CEC Bank
The European Commission has approved Romania’s planned €200mn capital increase for state-owned CEC Bank, allowing the country to proceed with strengthening the lender’s financial position, ... more