Russian investment bank attracts EUR 25 mln on Bucharest bourse

The International Investment Bank (IIB), a regional investment bank headquartered in Moscow, has attracted EUR 25 million on the Bucharest Stock Exchange (BVB), a little over half of what it initially planned. The bank launched last Friday a bond issue worth EUR 45 million (RON 200 million). The bonds are denominated in Romanian lei (RON) and have a three-year maturity. They pay a fixed annual interest rate of 4.1%. The bank plans to use the attracted amount to invest in Romanian companies, after having focused on granting loans or acquiring government titles in the last years. So far, the IIB has signed three deals to finance Romanian companies, worth a total of EUR 35 million. The bank financed BT Leasing with EUR 10 million, in September 2013, and has lent EUR 10 million to Agricover Credit and EUR 15 million to cable producer Romcab this year. Romanian brokerage house BT Securities, which is part of Banca Transilvania group, has managed the bond issue for IIB. editor@romania-insider.com