The bonds issued by the International Investment Bank (IIB) started trading on the Bucharest Stock Exchange yesterday. It was the first bond issue in euro completed on the local market.

The bond offer is denominated in lei and euro, and is due in 2020. It includes a local currency tranche worth RON 300 million (EUR 65.2 million) and a EUR 60 million tranche in foreign currency. The bonds in lei have a variable interest rate while the bonds in euro have a fixed rate.

Each bond denominated in RON has a nominal value of RON 10,000 (EUR 2,200), while each EUR-denominated bond has a nominal value of EUR 10,000.

The International Investment Bank (IIB) was founded in Moscow in 1970. It was meant to be the equivalent of the International Monetary Fund (IMF) for the Eastern Bloc. Romania is a member of IIB.

This is the lender’s third bond issue on the Bucharest Stock Exchange.

editor@romania-insider.com