April 19 (SeeNews) - Romania's Banca Transilvania [BSE:TLV] said it will ask its shareholders to approve the issuance of a corporate bond of up to 350 million euro ($433 million).
The public offer of the subordinated bond issue with a fixed or variable interest rate and ten-year maturity will be addressed to a maximum 150 people, Banca Transilvania said in a statement filed with the Bucharest Stock Exchange (BVB) late on Wednesday.
The final decision on the bond issue will be made at the extraordinary shareholders meeting scheduled for May 23. BT Capital Partners, which is part of the Banca Transilvania Group, will act as intermediary for the offer.
Banca Transilvania said earlier this month it has concluded the acquisition of the local units of Greece's Eurobank for an undisclosed sum.
As a result of the transaction, Banca Transilvania acquired holdings in the companies which are part of the Eurobank Group in Romania, namely Bancpost, ERB Retail Services IFN and ERB Leasing IFN.
Banca Transilvania is the largest Romanian privately-owned bank by assets and the second-largest bank by total assets in the country. Its net profit fell by 3.46% year-on-year in 2017, to 1.186 billion lei ($315 million/255 million euro).
In February, it launched a mandatory public tender offer for the minority stake it does not already own in Victoriabank, Moldova’s third-largest lender. In January, Banca Transilvania became a shareholder of Victoriabank.
Banca Transilvania's shares traded 0.38% higher at 2.65 lei as at 1138 CET on the BVB.
($=0.8085 euro)
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