The orders received exceeded more than twice the EUR300 million value initially announced, with placements from local and international investment funds, pension funds, banks and from asset and private banking managers.
Investors’ demand prompted a decrease of 37.5 basis points in the initial indicative price of 6%, down to a final price of 5.625%, while the maximum value of the orders placed topped EUR800 million.
The euro-denominated bonds were issued within CEC Bank’s MTN (Medium Term Notes) program worth EUR1.5 billion, approved by the Commission de Surveillance du Secteur Financier (CSSF), the main financial regulatory authority in Luxembourg, following the updating of the base prospectus on November 18, 2024.
CEC Bank will request the admission to trading of the bonds at the Luxemburg Stock Exchange and at the Bucharest Stock Exchange.
CEC Bank mandated Erste Group Bank A.G. and ING Bank N.V. as Joint Bookrunners and Co-Arrangers of the bond issue, while BT Capital Partners acted as Co-Manager. Dentons acted as legal adviser to CEC Bank, while Erste Group Bank A.G. and ING Bank N.V. were advised by law firm Clifford Chance, through the Bucharest and Frankfurt offices.