Libra Bank ready to pay 5.5%-6.5% for 10-year bonds denominated in euros
The Board of Directors of Romanian bank Libra Internet Bank, a member of the American investment group New Century Holdings, approved on June 28 the terms for a new foreign currency bond issue, with a maturity of ten years, to be listed at Bucharest Stock Exchange (BVB), according to a report published on June 29.
This wouldn’t be Libra’s first BVB-listed bond. According to a decision of the Extraordinary General Meeting of the bank’s Shareholders on September 2, 2021, the Board of Directors was mandated to perform all necessary steps to launch the bond.
The size of the bond is a minimum of EUR 4 mln, with the possibility of issuing up to EUR 10 mln bonds.
The bank thus wants to issue 8,000 subordinated bonds, eligible for Tier 2 equity, registered, dematerialized, non-convertible and unsecured, with the option to supplement up to 20,000 bonds.
The nominal value is EUR 500 per unit, and the final maturity is ten years.
The fixed interest rate is in the range of 5.5% - 6.5% per year and is paid semi-annually.
The operation is mediated by TradeVille.
(Photo: Iryna Drozd/ Dreamstime)