Banca Transilvania lists EUR 200 mln bonds at Bucharest Exchange

Banca Transilvania (BVB: TLV), the largest player in the Romanian banking system, lists on July 17 a bond issue of EUR 200 mln.

The issue has a 10-year maturity and an interest rate consisting of a fixed margin of 6.68pp plus the six-month Euribor level (currently at 3.95pp) – resulting in a combined 10.63% coupon at this moment.

"An amount equal to 100% of the net proceeds from the subordinated bond issue will be used by the issuer exclusively to finance its mortgage lending operations in Romania by sub-borrowers meeting certain eligibility criteria, with no less than 90% of the net proceeds to be used exclusively to finance its lending operations with respect to green mortgage loans that meet certain eligibility criteria," reads the bond issue prospectus quoted by Ziarul Financiar.

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