BCR's EUR 200 mln 7-yr bonds start trading at Bucharest Stock Exchange

The senior non-preferred bonds issued by Banca Comerciala Romana (BCR), Romania's second-biggest lender by assets, worth RON 1 bln (EUR 200 mln), will start trading on Bucharest Stock Exchange's Main Market, under the ticker BCR28.

It is BCR's second such issue, after the RON 600 mln issue in December 2019, when the bank successfully placed the first senior non-preferred bonds in Romania and the CEE region on BVB.

The European Bank for Reconstruction and Development (EBRD) placed RON 300 mln (EUR 60 mln), and the International Financial Corporation (IFC) said it contributed another USD 25 mln (over RON 100 mln).

BCR's head of investment banking, Ioana Tanase, explained the issue was operated not for liquidity purposes but regulatory purposes.

The bonds have a seven-year maturity and an interest rate of 3.9% p.a. The issue includes 2,000 bonds with a nominal value of RON 500,000 and was processed in BVB's trading system on May 19th, 2021.

BCR, a member of Erste Group, is one of the most important financial groups in Romania, providing universal banking operations (retail, corporate & investment banking, treasury and capital markets), as well as companies on the leasing market private pensions and housing banks.

(Photo source: Shutterstock)