The 16,374 bonds are subordinated, unsecured, non-convertible and euro-denominated, bearing a fixed interest rate of 6.5% per year, and eight years maturity. The nominal value of a bond is EUR500.
The bonds were sold by Patria Bank through a private placement on September 28-30, brokered by TradeVille. The minimum subscription in the private bond issuance placement was EUR25,000.
“The two bond issues carried out successfully by Patria Bank are proof the capital market and the banking sector are complementary in supporting the Romanian economy. Nearly one third of the lenders in the Romanian banking sector are present on the Bucharest Stock Exchange with listed shares or bonds,” said Radu Hanga, stock market chairman.