Romania: Strategic developments in Bucharest
Raiffeisen Bank lists new RON 750 mln bond issue on Bucharest Stock Exchange One of the largest banks in Romania, Raiffeisen Bank, listed a new corporate bond issue, its tenth overall, worth a total of RON 750 million on the Exchange’s Regulated Market on Friday, October 16. The bank listed 1,250 senior preferred, unsecured corporate bonds with a nominal value of RON 600,000 each and a fixed coupon of 7.538% per annum until 2032, followed by a floating rate calculated as 3-month ROBOR + 0.85% until their maturity on August 13, 2033. The offer was placed via a private placement and subscribed by 12 institutional investors. The funds raised will be used for general corporate funding purposes. 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. “Raiffeisen Bank’s tenth bond issue on the Bucharest Stock Exchange demonstrates that the capital market continues to be an efficient financing channel for banking institutions. 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,” stated Remus Vulpescu, CEO of the Bucharest Stock Exchange. 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.
Event details
These categories are assigned by an automated classifier and are not manually verified — they can be inaccurate or mislabelled. See how Newsmap classifies events.
Source
This event was reported on rssby @Romania Insider. The summary above is an automated, neutral description; always consult the original report before relying on it.
Related reports
Other recent reports about the same actors or country: