“CEC BANK S.A. informs the noteholders that it hereby exercises its option to early redeem in full the RON175.35 million 9.00% Non-Preferred Senior Eligible Notes due 2025 having ISIN XS2572123516 and the EUR97,300,000 7.50% Non-Preferred Senior Eligible Notes due 2025 having ISIN XS2572123433,” the bank said in the report to the Bucharest Stock Exchange.
One of the buyers of the notes was Hidroelectrica (H2O.RO), with an investment of EUR70 million (EUR350 million), ZF reported last year.
The two issues were CEC Bank’s first on the Bucharest Stock Exchange and the money raised was used for general corporate purposes, including cash and compliance with MREL requirements, according to the Bucharest Stock Exchange.
(English version by Loredana Fratila-Cristescu)