RO lender Patria Bank successfully completes EUR 5 mln private bond placement

19 September 2019

Romanian lender Patria Bank has announced the successful closure of the EUR 5 million private bond placement after only two days, with an oversubscription rate of nearly 70%.

The bonds have a maturity of eight years and have a 6.5% yearly coupon attached. The bonds are not guaranteed and not convertible or subordinated.

The bonds will be listed on the Bucharest Stock Exchange. Local brokerage firm Tradeville managed the private placement and brokerage firm Goldring was also involved as a sales agent. The strong demand demonstrates the potential of the retail capital market, said Tradeville general manager Mihaela Biciu.

Investment fund Axxess Capital controls close to 80% of Patria Bank’s shares through an investment vehicle registered in the Netherlands, while over 17% of the shares are held by individual investors.

(Photo: Shutterstock)

editor@romania-insider.com

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RO lender Patria Bank successfully completes EUR 5 mln private bond placement

19 September 2019

Romanian lender Patria Bank has announced the successful closure of the EUR 5 million private bond placement after only two days, with an oversubscription rate of nearly 70%.

The bonds have a maturity of eight years and have a 6.5% yearly coupon attached. The bonds are not guaranteed and not convertible or subordinated.

The bonds will be listed on the Bucharest Stock Exchange. Local brokerage firm Tradeville managed the private placement and brokerage firm Goldring was also involved as a sales agent. The strong demand demonstrates the potential of the retail capital market, said Tradeville general manager Mihaela Biciu.

Investment fund Axxess Capital controls close to 80% of Patria Bank’s shares through an investment vehicle registered in the Netherlands, while over 17% of the shares are held by individual investors.

(Photo: Shutterstock)

editor@romania-insider.com

Normal
 

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