Thus, BCR exceeds its own record, set in December 2019, when its first bond issue was listed on BVB, with a RON600 million value, the largest at that time.
The bonds have a 7-year maturity and an annual interest rate of 3.9%. The issue includes 2,000 bonds, with a nominal value of RON500,000 and was processed in BVB’s trading system on May 19, 2021. The bond issue has been assigned by Fitch agency with a BBB+ rating.
“The two bond issues in RON with RON 1.6bn total value, successfully completed by the BCR team, are examples of our commitment to contribute to the development of the capital market in Romania. We will continue to have such actions on a recurring basis. Investors’ interest in these issues gives us confidence that Bucharest Stock Exchange will become more attractive and it will sustain more and more rounds of financing that will contribute to the economy growth”, said Sergiu Manea, CEO of Banca Comerciala Romana.
“The value of BCR bond issue demonstrates, once again, the ability of the capital market and investors to finance the local economy. In the last two and a half years, we have had over 60 rounds of financing on BVB, both equity and bonds, through which over EUR 2.7bn went to support Romanian companies. Today, BCR exceeds its own record, set a year and a half ago here, on Bucharest Stock Exchange. We are glad to have BCR as an important partner and to finance together the Romanian economy”, said Radu Hanga, President of the Bucharest Stock Exchange.
BCR, a member of Erste Group, is one of the most important financial groups in Romania, including universal banking operations (retail, corporate & investment banking, treasury, and capital markets), as well as companies in the leasing market, private pensions and housing banks.
BCR Group, held by Austria’s Erste Group, ended the first quarter of 2021 with a net profit of RON424.6 million (EUR87 million), up nearly 1% from RON428.3 million (EUR89.3 million) in the year-earlier period. Its operating income grew 3.6% to RON882.9 million and its net interest income inched down 0.7% to RON593.8 million (EUR121.7 million), due to the impact of lower interest rates on the monetary market, partly offset by higher loan and deposit volumes, on the retail and corporate customer segments.