May 7 (SeeNews) - Raiffeisen Bank said on Thursday that its two December bond issues worth 480 million lei (112 million/104 million euro) will start trading on the Bucharest Stock Exchange (BVB) on May 14.
On May 6, Raiffeisen Bank received Romanian financial regulator's approval to list the bonds, it said in a press release.
"We also received the central bank's approval to include the bonds in our own funds, thus strengthening and diversifying our capital position. With these funds, the bank will support its clients in the difficult period we are going through and will contribute to the financing of Romania's sustainable economic development, including through investments in green projects ", Raiffeisen Bank vice president of treasury and capital markets James Stewart said.
The lei-denominated issue of subordinated bonds has a maturity of 10 years. The sole two investors in the bond were International Finance Corporation (IFC) and the European Bank for Reconstruction and Development (EBRD).
Raffeisen Bank, the Romanian unit of Austria's Raiffeisen Bank International (RBI), saw its after-tax profit from operations fall by 16.6% year-on-year to 161 million euro in 2019. Raiffeisen Bank had 354 branches in Romania at the end of 2019 and employed 4,987 people.
(1 euro=4.8258 lei)
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