“The transaction generated one of the most competitive funding margins secured by a bank in Romania for a MREL eligible issue in the last few years, reflecting the high interest of investors and confidence in BCR’s soundness,” the Austrian-held Romanian bank said.
More than 130 institutional investors showed interest in the transaction and demand was significantly higher than the value offered, over EUR2 billion when the book closed.
The high investor interest allowed adjusting the final margin to 35 bps below the yield of Romania’s euro-denominated government paper with a five-year maturity.
The issue was handled by Bank of America, BNP Paribas, Citi, Erste Group and JP Morgan and the bonds will be listed on the Vienna Stock Exchange and then on the Bucharest Stock Exchange.
The new issue has a maturity of six years with an option to redeem early after five years.
With this transaction, BCR raised RON3,625,000,000 equivalent via its two bond issues in November, RON1,125,000,000 from the local issue launched on November 11, 2025 and about RON2,500,000,000 equivalent (EUR500 million) from the second.
(English version by Loredana Fratila-Cristescu)