September 4 (SeeNews) - The International Investment Bank (IIB) said on Monday it plans to issue a new bond on the Bucharest Stock Exchange, BVB, at the end of September.
IIB has mandated BT Capital Partners and Banca Comerciala Romana (BCR) to act as co-lead managers on the new issue of RegS medium tenor bonds denominated in lei and/or potentially euro, the bank said in a statement filed with the BVB.
The bank said it will use the proceeds to consolidate and expand its existing loan portfolio and to finance activities in Romania.
The co-lead managers are set to arrange investor meetings and investor calls in Bucharest and in other places in Europe starting September 11.
The expected timing of the issue is the end of the month, depending on market conditions, IIB added.
The planned bond issue will be IIB's third on the BVB. In 2016, IIB attracted 300 million lei ($78 million/ 65 million euro) through a bond issue with a maturity of three years and a coupon of 3.4% per year, while in 2015, it issued bonds worth 111 million lei and carrying a coupon of 4.1% per year.
Based in Moscow, Russia, the International Investment Bank is a multilateral development bank established in 1970 in order to promote economic development and cooperation between its member states.
The members of the IIB are Bulgaria, Hungary, Vietnam, Cuba, Mongolia, Russia, Romania, Slovakia and the Czech Republic.
So far, the IIB has issued bonds in Russia, Slovakia and Romania.
(1 euro=4.5949 lei)