Banca Transilvania seeks to raise a maximum amount of EUR1 billion or equivalent, on the basis of a flexible structure, through several separate issues carried out over a maximum period of ten years, with the delegation of powers to determine the conditions of the issuance program to the Management Board.
The offer will be intermediated by BT Capital Partners, the brokerage division of Banca Transilvania Group.
Shareholders also approved the unfolding of a public offer and/or private placement targeting the first tranche bonds, which will be intended for qualified investors and/or up to 150 natural or legal persons. These will be subsequently listed on the regulated market of the Romanian capital market or on other stock exchanges.
In the first half of 2022, Banca Transilvania had a net profit of RON907 million, slightly higher on the year, while the consolidated net profit of Banca Transilvania Group exceeded RON1 billion.
On June 30, 2022, Banca Transilvania reported operating income of RON2.3 billion, up 7.7% on the year, while operating expenses grew almost 16% to RON1.3 billion.
Banca Transilvania has a market value of RON12.4 billion and Pillar II pension funds, the largest investors on the local stock market, hold 24% of its share capital. TLV shares have lost 24% since the beginning of 2022 amid deals worth RON1.7 billion, in line with stock market data.