Romanian lender Patria Bank lists EUR 8.2 mln subordinate bonds

Romanian lender Patria Bank, controlled by private equity fund Emerging Europe Accession Fund (EEAF), with EBRD, EIF, DEG (Development Bank, part of the KfW banking group) and BSTDB (Black Sea Trade and Development Bank) among its investors, has listed the EUR 8.2 mln subordinate bonds previously issued under a private placement.

This second round of financing carried out by the credit institution on the capital market, after the one in 2019, brings the value of financing the bank has attracted through the capital market in the last two years to EUR 13.2 mln.

"This new issue means to us much more than only the funds we raised. In 2020, a year that has brought over many challenges, the fact that we obtained the investors' trust is a vote of confidence for the path on which we have taken Patria Bank," said Daniela Iliescu, Patria Bank CEO.

Patria Bank sold the bonds through an offer held between September 28 and 30 and managed by local brokerage firm TradeVille. The bonds are subordinated to be registered in Patria Bank's Level 2 Equity.

Strengthening the capital base allows the bank to support and implement its strategy to organically grow the lending activity in compliance with the prudential solvency requirements.

(Photo source: the company)