BCR issues 5-yr RON-denominated non-preferential senior bonds with 6.76% coupon
Banca Comercială Română (BCR), part of Erste Bank Group, announced on Thursday, March 31, that it raised RON 352 mln, 40% above target, with a new senior non-preferential bond. The coupon was set at 6.76%.
Andrei Chirileasa · Journalist
· Updated · 1 min read
Banca Comercială Română (BCR), part of Erste Bank Group, announced on Thursday, March 31, that it raised RON 352 mln, 40% above target, with a new senior non-preferential bond. The coupon was set at 6.76%.
The International Finance Corporation (IFC) and the European Bank for Reconstruction and Development (EBRD) were among the investors.
The bank said that it continues the strategy of expanding its funding sources and contributing to the development of the capital market in Romania.
With this issue, BCR takes a step forward and aligns with EU regulations on the ability of banks to absorb losses, the minimum capital requirement and eligible debt (MREL) and the MREL guidelines.
In the last three years, the institution has launched bond issues totalling RON 3.05 bln (EUR 600 mln), being one of the most active issuers on the Bucharest Stock Exchange.
Like the previous ones, the latest issue will be listed on the Bucharest Stock Exchange (BVB). Fitch already extended a provisional long-term rating of BBB+ for the bond.
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