The issue, with symbol RBRO33, includes 1,250 bonds, each with a nominal value of RON600,000. The interest rate is fixed, at 7.538% per annum until 2032; thereafter, a floating rate calculated as 3-month ROBOR + 0.85%. The maturity is set for August 13, 2033.
The bonds are senior preferred, unsecured corporate ones, eligible for the Minimum Requirement for Own Funds and Eligible Liabilities (MREL), pursuant to applicable credit institution legislation.
The offer was placed via a private placement and subscribed by 12 institutional investors.
„(…) We are talking about a pioneer of green bonds in the Romanian banking sector, and the fact that a top-tier financial institution consistently returns to the BVB with bond issuances over the last 13 years proves that the Exchange has become a key platform for major corporate issuances. As a trusted partner to the banking system, the BVB provides the structure and liquidity required for complex financing projects. We are delighted to see this new RON 750 million issuance by Raiffeisen Bank successfully completed and available for trading on the BVB starting today,” stated Remus Vulpescu, CEO of the Bucharest Stock Exchange.
The bonds are issued under the Euro Medium Term Note (EMTN) programme, which enables the bank to access international capital markets for financing. The RBRO33 bonds are dual-listed on the Luxembourg Stock Exchange.
The Raiffeisen Bank bond issue has been assigned a Baa1 rating by Moody’s Ratings. A Baa1 rating places the bonds in the investment grade category, reflecting a stable credit profile for the issuer.
“We are pleased by the consistent interest that investors show in Raiffeisen Bank’s bond issuances and thank them for their trust. For us, this serves as confirmation of the sustainability of our business model. Active presence on the local capital market remains a central element of our financing strategy. We are focused on diversifying our funding sources and optimizing our base of own funds and eligible liabilities (MREL). At the same time, we contribute to the development of the local market and strengthen our capacity to continue supporting the financing of the Romanian economy”, stated Romulus Mircea, Head of Treasury, Raiffeisen Bank.
Raiffeisen Bank listed its first bond issue on the Bucharest Stock Exchange in 2013. Over these 13 years, the bank has listed 10 bond issues on the BVB, of which four are currently trading: RBRO33 (listed today), RBRO27C, RBRO27B, and RBRO28.
In 2021, Raiffeisen Bank marked a milestone for both the capital market and the Romanian banking sector by listing the first-ever green bond issue on the BVB’s Regulated Market, exceeding RON 400 million. In the following years, the bank continued to issue and list new green and sustainability bonds, bringing the total value of Raiffeisen Bank issues currently traded on the Exchange to over RO 2.3 billion.
(English version by Catalina Apostoiu)