BCR Leasing's bonds 80% sold already

Banca Comerciala Romana’s (Romanian Commercial Bank – BCR) leasing company has managed to sell most of its bond issue although the public primary offering is a couple of days away from conclusion. The 1.9 million euro bond issue can be considered a test for the bond issues scheduled by BCR, BRD or Raiffeisen Bank for this year, particularly because the bonds are sold through BCR’s offices. The leasing company has already sold nearly 80% of the bonds publicly offered during the primary offering put out on March 8. The offering ends tomorrow and judging from the experience of other bond issues, the brokers on the Stock Exchange say most of the major investors like mutual funds or banks usually subscribe during the last few days of the offerings, as the securities purchased do not bear any interest while the offering is still open. ZF