Libra raised EUR4.29 million in a private placement bond sale ended on March 25. The bonds have a nominal value of EUR500, ten-year maturity and 5% interest payable half-yearly.
“People need security and credible investments and investing in banks remains very safe and profitable. Although there are risks of over-regulation or market loss in favor of fintechs or neobanks, traditional but agile commercial banks with a significant appetite for new technologies and open to partnerships remain a solid option for any investor. It is a success profile to which Libra Internet Bank fully corresponds,” said bank CEO Emil Bituleanu.
“Being listed on the Stock Exchange means being able to meet the highest requirements regarding the quality, transparency and performance of your activity. The presence on the capital market expresses total confidence in one’s own strengths and openness to investors, in conditions of continuous communication. For all these reasons, the listing of the Libra Internet Bank bonds is an important step in the bank’s evolution, through which we manage to demonstrate once again our solidity and development capacity, regardless of the moment,” said Radu Gratian Ghetea, chairman of Libra’s board of directors.
The private placement for Libra Internet Bank bonds was brokered by TradeVille. The bonds were subscribed by 27 investors, of which 2 are institutional investors and 25 retail investors (one legal entity and 24 individuals).
“Despite a difficult period of time worldwide, the bond offering was successfully completed ahead of time, in less than a week, with most buying orders having been placed online. The private placement in March was an excellent expression of the role online mobile technology plays in 2020, a field led and pioneered by TradeVille and Libra Internet Bank on the Bucharest Stock Exchange and in the Romanian banking system,” said Mihaela Biciu, CEO and president of TradeVille.
Libra Internet Bank’s bond issue is the 11th bond issue to be listed on the Bucharest Stock Exchange this year. The value of all the 11 bond issues listed this year is RON2.59 billion(EUR535 million). In 2019, the Bucharest Stock Exchange had 18 bond issues listed totaling RON4.83 billion (EUR1 billion).