Romanian bank BCR prints inaugural ‘green bond’
Banca Comercială Română (BCR), part of Erste Bank Group, has successfully printed its inaugural green bond issuance of RON 500 mln (EUR 100 mln), continuing its strategy towards expanding its financing sources and contributing to the…
Andrei Chirileasa · Journalist
· Updated · 1 min read
Banca Comercială Română (BCR), part of Erste Bank Group, has successfully printed its inaugural green bond issuance of RON 500 mln (EUR 100 mln), continuing its strategy towards expanding its financing sources and contributing to the development of the capital market in Romania.
The issuance represents senior preferred notes with a 7-year maturity and brings BCR’s first green bond transaction, while plans are for it to be listed on the Bucharest Stock Exchange.
The deal was successfully priced at a coupon of 5.00%.
The distribution was balanced between pension funds, asset managers, insurance companies, credit institutions – and benefitted from the participation of the European Bank for Reconstruction and Development (EBRD) and International Finance Corporation (IFC).
The notes have been assigned an expected long-term rating of BBB+ by Fitch.
The bank has printed in the two past years an amount of RON 2.1 bln (EUR 420 mln) in bond issuance, being one the most active issuers on the Bucharest Stock Exchange.
(Photo: Monthira Yodtiwong/ Dreamstime)
