EBRD subscribed 15% of the funding raised from the capital market by the number two of Romania’s banking sector, via a bond issue maturing in seven years, and paying 5% interest a year, listed on the Bucharest Stock Exchange on October 19. Other investors include pension funds, mutual funds, insurance companies, as well as the International Finance Corporation (IFC).
“The BCR28A bond issue is part of BCR’s action to meet the ESG (environmental, social and governance) criteria, in order to generate sustainable economic development (…),” BCR said.
This the fourth time BCR raised funds via the Bucharest Stock Exchange. One its bond issues has already matured. The second, worth RON600 million, has been trading as BCR26 since December 2019. The third, worth RON1 billion, has been trading as BCR28 since the end of May 2021.
EBRD is the largest institutional investor in Romania’s economy, and owns stake in listed companies such as Banca Transilvania, Digi Communications and Electrica.
(English version by Loredana Fratila-Cristescu)