BCR has successfully printed the largest bond issuance of 1 billion lei, following the first ever non-preferred bond issuance in Romania and CEE region, in December 2019.
The issuance represents senior non-preferred notes, with a 7-year maturity and brings the largest RON bond transaction on the local capital market.
The notes have been assigned an expected long-term rating of BBB+ by Fitch.
The book building process has shown a strong interest from investors, as the deal was successfully priced at a coupon of 3.9%.
The distribution was balanced between pension funds, asset managers, insurance companies – and benefitted from the notable participation of EBRD and International Finance Corporation.
The bond issuance has shown its early success when, at the end of the first subscription day, the order book was covered above the 750 million lei minimum amount targeted.
The final volume and pricing also reflect our commitment to the market in terms of future issuance plans and our firm intention of building a relationship of trust with our investors.