You have 5 free articles left this month. Get your free Basic subscription now and gain instant access to more.

International Investment Bank places 200 mln lei (40 mln euro) bond

International Investment Bank places 200 mln lei (40 mln euro) bond Source: IIB

BUCHAREST (Romania), October 14 (SeeNews) - Budapest-headquartered International Investment Bank (IIB) said on Thursday it successfully concluded a two-year 200 million lei ($47 million/40 million euro) bond placement despite high volatility on the Romanian lei market.

Both local investors and offshore investors, including asset managers, pension funds and insurance companies, took part, the IIB said in a press release.

The bank has reached the tightest spread versus mid-swap ever and the lowest negative euro-after swap interest rate for a long-term funding transaction. The issuance comes as a partial rollover of the upcoming Romanian lei redemption, it added.

In the past seven years, the volume of Romanian lei funding attracted by IIB amounts to 2.3 billion lei.

The IIB was founded in 1970. Current shareholders of the bank include Bulgaria, Cuba, the Czech Republic, Hungary, Mongolia, Romania, Russia, Slovakia and Vietnam.

(1 euro=4.9488 lei)

Compare