On October 12, the International Investment Bank (IIB) completed its ninth bond issue denominated in Romanian currency, a 2-year RON 200 mln (EUR 40 mln) issue aimed at refinancing in advance of upcoming redemption.

Both local investors and offshore investors showed interest and the split by investor type include asset managers, pension funds and insurance companies in the final book.

In the past seven years, the volume of funds raised by IIB in Romanian currency amounted to RON 2.3 bln, almost EUR 0.5 bln, making the Romanian currency one of the cornerstones for the IIB’s funding.

“The MTN Programme […] proved to be the most efficient tool for our funding and enabled us to react in a time-efficient manner on the opportunity windows on the market,” said Jozef Kollar, First Deputy Chairperson of IIB in charge of Treasury and DCM.

The latest issue was completed with the support of IIB’s long-standing partner UniCredit, despite the elevated volatility on the RON bond market.

(Photo: Iryna Drozd/ Dremstime)

andrei@romania-insider.com