The book building process showed strong investor interest, hence in the first hours after opening the orderbook reached over EUR1 billion, rising to over EUR1.9 billion at close of the orderbook in just a few hours, allowing a coupon of 7.625%, significantly reduced from IPTs of 8% to 8.25%.
BCR’s new bond issue is a first on the Romanian financial-banking market, being the largest corporate bond issuance in Romania. It is also BCR’s eighth bond issuance and was distributed by Erste Group Bank AG, BNP Paribas, Citigroup Global Markets Europe AG, ING Bank N.V., J.P. Morgan SE as joint bookrunners and BCR as co-lead manager.
“The issue is to be listed on the Vienna and Bucharest Stock Exchanges. In addition, this issuance is part of BCR’s journey in the direction of ESG (Environmental, Social and Governance) criteria, with the aim to build a sustainable economic development by encouraging environmentally responsible behavior, through better governance and increased social involvement,” BCR says in its report to the Bucharest Stock Exchange.
(English version by Loredana Fratila-Cristescu)
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