December 18 (SeeNews) - Raiffeisen Bank said it has successfully placed two bond issues on the Romanian market worth 480 million lei (112 million/104 million euro) and 50 million euro ($55.7 million), respectively.
The two bond issues are intended to strengthen and diversify the capital position of Raiffeisen Bank and will support responsible financing of the Romanian economy, the bank said in a statement on Tuesday.
The 480 million lei 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). EBRD intends to list the bonds on the Bucharest Stock Exchange in the first part of 2020, Raiffeisen said.
The sole investor in the 50 million euro bond issue is Raiffeisen Bank International (RBI), the main shareholder of Raiffeisen Bank Romania.
RBI's after-tax profit from operations in Romania fell by an annual 34% to 105 million euro in the first nine months of 2019. Raiffeisen Bank had 369 branches in Romania at the end of September and employed 4,971 people.
(1 euro=4.7769 lei)
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