BCR sells bonds in RON with 7.25% interest

BCR has decided to issue bonds in RON with a three-year maturity period, and a fixed interest rate of 7.25% a year, following meetings with investors in Bucharest, Vienna and London, bank sources told ZF. The management of the bank decided that the maximum sum accepted for subscription should not exceed 575 million RON (some 164 million euros). The World Bank has recently raised 525 million RON from the local and the foreign market, through a bond issue, also with a three-year maturity period, but with a fixed interest of 6.5% a year, 0.75 basis points below the interest offered by BCR. The World Bank bonds were listed yesterday on the Bucharest Stock Exchange. The final prospectus of BCR’s bond issue still needs to be approved by the CNVM (National Securities Commission), which approved the preliminary prospectus at the beginning of the month.