Romanian Banca Transilvania’s leasing firm raises EUR 40 mln in bond issue

The bonds issued by BT Leasing (BTL), the leasing arm of Romania’s largest financial group - Banca Transilvania, started trading on the Bucharest Stock Exchange on December 23.

The size of the issue is EUR 40 million, with the World Bank’s investment arm - International Financial Corporation (IFC) being the “anchor” of the issue with a EUR 18.5 mln subscription.

“The financing obtained through the bond issue allows us to increase our portfolio in the area of sustainable energy and SMEs,” said Ionuţ Morar, general manager of BT Leasing.

The bonds were denominated in euro, in two tranches with different maturities, respectively EUR 21.5 mln with a maturity of 6 years having attached coupon of Euribor6M + 2%, and EUR 18.5 mln with a maturity of 5 years respectively, having attached a Euribor6M + 1.75% coupon.

“We expect BT Leasing's financing to increase the company's economic activity and create new jobs, in parallel with meeting the urgent need for investments in energy efficient projects,” said Thomas Lubeck, IFC regional director for Central and South Europe.

(Photo source: the company)