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Romania's UniCredit Bank to launch 500 mln lei (110 mln euro) bond on Bucharest bourse

Romania's UniCredit Bank to launch 500 mln lei (110 mln euro) bond on Bucharest bourse UniCredit Romania

BUCHAREST (Romania), July 14 (SeeNews) - Romania's UniCredit Bank said on Friday that it will launch on the Bucharest Stock Exchange (BVB) a 500 million lei ($125 million/110 million euro) bond issue exclusively for qualified investors.

The proceeds from the issue will be used for general financing purposes, mostly lending to customers, UniCredit said in a statement posted on its website.

The bonds will be offered to investors between July 17 and 21 July at a price of 10,000 lei each.

In case of oversubscription, the bank is considering increasing to 61,000 from 50,000 the number of bonds offered. The maturity of bonds will be of 3, 5 and 7 years.

Final interest rates will be published two days before the closing date of the offer.

The offer will be considered successful if at least 60% of the bonds are subscribed for.

UniCredit's pre-tax profit jumped 30.3% year-on-year, reaching 91 million euro ($97.3 million) in 2016.

The bank operated 160 branches in the country at end-2016.

In August 2015, Romania's UniCredit Tiriac Bank changed its name to UniCredit Bank after UniCredit Bank Austria raised its stake in it to 95.6%. 

(1 euro=4.5645 lei)

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