Romanian unit Erste BCR issues 702 million lei (142 million euros) of green bonds
BUCHAREST (Romania), June 16 (SeeNews) – Banca Comerciala Romana (BCR), part of the Austrian Erste Group, announced that it has issued new non-preferred senior green bonds with a total value of 702 million lei (149 million dollars/142 million euros).
This new green bond issue is part of the bank’s journey to build sustainable economic development, encourage environmentally responsible behavior and reduce social inequalities, the bank said in a press release on Wednesday. .
The bond issue has a maturity of five years and a coupon rate of 9.079% and will be listed on the Bucharest Stock Exchange.
The bookmaking process has attracted strong interest from investors including the European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC).
It has been assigned an expected long-term rating of BBB+ by Fitch.
“We remain consistent and extend our commitment to issuing green bonds, as part of our vision for a long-term and sustainable transformation of the Romanian economy,” said BCR CEO Sergiu Manea. “Investors are more and more attentive to the resources they choose to support and we are happy to see this concern increasingly present in Romania. It is a sign of responsibility and, at the same time, of confidence in the capital market, even in a difficult international context.”
Over the past three years, the bank has issued 3.75 billion lei of bonds, making it one of the most active issuers on the Bucharest Stock Exchange.
With this issue, the BCR has taken a further step towards complying with EU regulations on the minimum capacity that banks must have to absorb losses and the minimum requirements for own funds and eligible liabilities, added the lender.
The RBC has a network of 18 business centers and 16 mobile offices dedicated to companies and 323 points of sale.
(1 euro = 4.9449 lei)
Banca Comerciala Romana SA is one of the largest banks in SEE, for more reference check out the top 100 banks