Erste's Romanian unit BCR launches 201 mln euro bond issue

The book building process attracted strong interest from investors, with the orderbook reaching over 500 million lei in the first hours after opening, shortly rising to over 1.2 billion lei, the lender said in a press release.

Thus, the yield of 100 basic points above the government securities translated into a coupon of 7.55%, it added.

The issuance has been assigned an expected long-term rating of BBB+ by Fitch and Baa2 from Moody's.

It will be listed on the Bucharest Stock Exchange.

In the past three years the bank has issued 8 billion lei in bonds, making it one of the most active issuers on the Bucharest Stock Exchange.

BCR has a network of twenty business centres and 16 mobile offices dedicated to companies and 319 retail units.

(1 euro=4.97133 lei)