The bank has launched RON2.7 billion worth of bond issues in the last two years and is therefore one of the most active issuers on the stock exchange.
Subscriptions were evenly distributed among pension funds, asset managers, insurance companies, credit institutions, and even attracted the European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC). Fitch is to assign the new bond issue a long-term rating of BBB+. The coupon rate was 5.98%.
“We are consistent and continue our commitment to recurring bond issues. This is our fourth substantial bond issue in lei, including a green bond issue in the last two years. The Romanian capital market is becoming more and more attractive to strategic investors with a long-term vision, and I would like to thank all those who contributed to this initiative for believing in our vision of sustainable transformation of the economy,” said Sergiu Manea, CEO of Banca Comerciala Romana.
With this issue, BCR complies with EU regulations on the capacity banks must have to absorb losses, the minimum own funds and eligible liabilities (MREL) requirement and the MREL guidelines in line with the resolution strategy it is pursuing.
(English version by Loredana Fratila-Cristescu)