BANCI | ENGLISH

EBRD issues inaugural bond in Romanian Leu

Autor:

2009-02-03 21:12

The European Bank for Reconstruction and Development has launched its first issue in Romanian Leu (RON) by issuing a RON 115 million fixed rate bond. The issue is the first ever bond to be launched simultaneously in the Romanian and the international markets.rnrnThe bond issue is part of the Banks strategy to assist in the development of the capital markets in Romania. As the first bond issue in Romania to benefit from recent changes to cross-border securities issuance in the EU, it should pave the way for other transactions. This issuance enables the Bank to access the domestic Romanian investor base, in addition to capturing demand for RON from the international investment community. The further development of a domestic capital market will have long-term benefits for the Romanian economy, said Claudia Pendred, EBRD Director for Romania.rnrnThe Banks RON 115 million bond has a 10-year maturity and pays a coupon of 11.25 per cent, with an issue price of 100 per cent. The issue is lead-managed by Société Générale. The bonds will be cleared through Clearstream, Euroclear and the Romanian Central Depositary. Applications will be made to list the bond on both the Bucharest Stock Exchange and the London Stock Exchange.rnrnThis RON bond builds on the Banks ongoing issuance programme in the currencies of its countries of operations. The EBRD has been active in local currency issuance across the region and particularly in Russia where it has now raised RUB 27.5 billion through bond issues.rnrnManfred Schepers, EBRD Vice President Finance, said this issue reflects the importance of developing a domestic capital market in local currency. The need for deep domestic markets has been highlighted by the current crisis where an over-reliance on foreign currency debt has exacerbated instability.rnTo date, the Bank has invested about 3.8 billion in 249 projects in Romania and helped mobilise a further 7.2 billion from external sources, resulting in total investments of over 11 billion.rnrnFollowing are the terms and conditions of the issue:rnrnIssuer: European Bank for Reconstruction and Development (EBRD)rnIssue Amount: Romanian Leu 115 millionrnMaturity Date: 5 February 2019rnCoupon: 11.25% annually every 5 FebruaryrnIssue price: 100%rnLead Manager: Société GénéralernRatings: Aaa (Moody’s), AAA (S&P), AAA (Fitch)rnListing: Bucharest Stock Exchange and London Stock Exchangern

Taguri:

Comentarii

Nu există comentarii pentru această știre.

Adauga un comentariu

Alte stiri din categoria: ENGLISH

Neutral interest rate in Romania

The neutral nominal rate in Romania has been falling since the start of inflation targeting in 2005. The Taylor Rule clearly shows that interest rates peaked in 2022 and have been on a clear downward path ever since.Furthermore, the model estimates a long-term neutral nominal rate of around 3.9%, which is the equivalent of approx. 1.4% real.Using a more sophisticated model (i.e. New York FED’S HLW model), the real neutral interest rate in Romania is estimated currently at around 1.5% (1.7% 2023 average) and the historical mean at 1.2%.This implies a neutral nominal rate between 4.00% and 4.50%. In the past decade, the NBR real effective rate was below the neutral rate and only over the past year climbed above the neutral mark.Source: Erste Bank

Merger of Alpha Bank and UniCredit Bank Romania

Press Release:"Alpha Services and Holdings announces a strategic partnership with UniCredit in RomaniaMerger of Alpha Bank Romania and UniCredit Bank Romania and creation of third largest bank in Romania by... detalii

National Bank of Romania (NBR) Board decisions on monetary policy

NBR Board decisions on monetary policyIn its meeting of 4 April 2023, the Board of the National Bank of Romania decided:• to keep the monetary policy rate at 7.00 percent per annum;• to leave unchanged the lending (Lombard) facility rate at 8.00 percent per annum and the deposit facility rate at 6.00 percent per annum;• to keep the existing levels of minimum reserve requirement ratios on both leu- and foreign currency-denominated liabilities of credit institutions.The annual inflation rate went down to 15.52 percent in February 2023, from 16.37 percent in December 2022, relatively in line with forecasts. The decrease was mainly driven by the sizeable drop in the dynamics of fuel and electricity prices, under the impact of significant base effects and the change made to the energy price capping and compensation scheme starting 1... detalii

ING posts 2022 net result of €3,674 million, dividend of €0.389 per share

ING press release:ING posts FY2022 net result of €3,674 million,proposed final 2022 dividend of €0.389 per share 4Q2022 profit before tax of €1,711 million; CET1 ratio remains strong at 14.5%•Profit before tax up 29% on 4Q2021 and 24% on 3Q2022, mainly driven by higher income•Higher net interest income, as a further increase in liability margins helped offset TLTRO impact this quarter•Risk costs declined to 17 bps of average customer lending Full-year 2022 net result of €3,674 million, supported by growing customer base and increase in lending and deposits•On a full-year basis, our primary customer base grew by 585,000•Net core lending growth of €18 billion and net core deposits growth of €25 billion in 2022•Net result of €3,674 million in a challenging year; proposed final 2022 dividend of €0.389 per share CEO statement“Looking back, 2022 was... detalii