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Erste Romanian unit BCR issues 500 mln lei (101 mln euro) green bonds

Erste Romanian unit BCR issues 500 mln lei (101 mln euro) green bonds Author: BCR. Licence: All Rights Reserved.

BUCHAREST (Romania), October 14 (SeeNews) - Banca Comerciala Romana (BCR), part of Austria's Erste Group, issued inaugural green bonds worth a total 500 million lei ($117 million/101 million euro), it said on Thursday.

The issue, comprising senior preferred notes with a seven-year maturity, will be listed on the Bucharest Stock Exchange, the bank said in a press release.

The book building process attracted strong interest from investors, including the European Bank for Reconstruction and Development (EBRD) and International Finance Corporation (IFC), it added

The bond has a coupon of 5%.

It has been assigned an expected long-term rating of BBB+ by Fitch.

In the past two years the bank has issued 2.1 billion lei in bonds, making it one of the most active issuers on the Bucharest Stock Exchange.

With this issuance, BCR took another step towards meeting the EU regulations on the minimum capacity that banks must have in order to absorb losses and the minimum requirements for own funds and eligible liabilities, the lender added.

BCR has a network of 18 business centres and 16 mobile offices dedicated to companies and 370 retail units.

(1 euro=4.9488 lei)

Banca Comerciala Romana SA is among the biggest banks in SEE, for more reference take a look at Top 100 banks
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