BCR listed the largest bond issue on Bucharest Stock Exchange worth RON 1bn

5/31/2021

  • The bonds issued by BCR, worth RON 1bn, started trading on Bucharest Stock Exchange under the ticker BCR28
  • Fitch agency assigned  BBB+ rating to the bond issue
  • It is the largest bond issue traded on Bucharest Stock Exchange
  • BCR sets a new record: the first BCR bond issue, listed in December 2019, had a value of RON 600mn, the largest at that time

 

Banca Comerciala Romana (BCR) listed today, May 31st, the largest bond issue on Bucharest Stock Exchange (BVB), worth RON 1bn. Thus, BCR exceeds its own record, set in December 2019, when its first bond issue was listed on BVB, with a RON 600mn value, the largest at that time. The bonds listed today under the ticker BCR28 are traded on the BVB’s Main Market.

"The two bond issues in RON with RON 1.6bn total value, successfully completed by the BCR team, are examples of our commitment to contribute to the development of the capital market in Romania. We will continue to have such actions on a recurring basis. Investors' interest in these issues gives us confidence that Bucharest Stock Exchange will become more attractive and it will sustain more and more rounds of financing that will contribute to the economy growth", said Sergiu Manea, CEO of Banca Comerciala Romana.

"The value of BCR bond issue demonstrates, once again, the ability of the capital market and investors to finance the local economy. In the last two and a half years, we have had over 60 rounds of financing on BVB, both equity and bonds, through which over EUR 2.7bn went to support Romanian companies. Today, BCR exceeds its own record, set a year and a half ago here, on Bucharest Stock Exchange. We are glad to have BCR as an important partner and to finance together the Romanian economy", said Radu Hanga, President of the Bucharest Stock Exchange.

The bonds have a 7-year maturity and an annual interest rate of 3.9%. The issue includes 2,000 bonds, with a nominal value of RON 500,000 and was processed in BVB’s trading system on May 19th, 2021. The bond issue has been assigned by Fitch agency with a BBB+ rating.

„The importance of the BCR bond issue and its listing on the Bucharest Stock Exchange is not limited only to its value, though a very relevant one for the future of the Romanian capital market. The issue was processed two weeks ago in the BVB’s trading system, which demonstrates the capacity of the market infrastructure to support large rounds of financing of issuers, as well as of the brokers", said Adrian Tanase, CEO of the Bucharest Stock Exchange.

BCR listed today the second bond issue on BVB. The first has a value of RON 600mn and was listed in December 2019 under the ticker BCR26.

BCR, a member of Erste Group, is one of the most important financial groups in Romania, including universal banking operations (retail, corporate & investment banking, treasury, and capital markets), as well as companies in the leasing market, private pensions and housing banks.