Nuclearelectrica buys one-third of CEC Bank's euro-denominated MREL bonds
Romania's nuclear group Nuclearelectrica (BVB: SNN), controlled by the state, announced that it bought EUR 45 million more of MREL bonds denominated in euros, issued by the state-owned bank CEC, thus raising its exposure to EUR 90 million, Ziarul Financiar reported.
The amount exceeds 5% of the value of SNN's net assets, as well as 10% of the net turnover related to the last annual financial statement.
Nuclearelectrica's portfolio of CEC Bank bonds accounts for nearly a third of the EUR 281 million euro-denominated MREL bonds issued by the bank. The bonds have a 7.5% coupon attached.
Separately, Nuclearelectrica placed RON 285 million (EUR 57 million) in deposits at CEC Bank.
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