Finansbank cleared for capital increase

Finansbank Romania’s shareholders approved an issue of corporate bonds worth 350 billion ROL. The funds raised will secure the financing of the growth of the bank’s long-term loan portfolio. At the same time, shareholders approved an increase in the bank’s share capital by 125.34 billion ROL, to 600 billion ROL (14.6 million euros), through the issue of 5.829 million shares with a face value of 21,500 ROL/share. The new shares will be offered for subscription to shareholders registered by August 16. For each share they hold, the current owners have the right to subscribe and acquire 0.26 new shares. The 35,000 bonds, with a face value of 10 million ROL/bond, will be listed on the Bucharest Stock Exchange. The bonds will mature in three years, and the interest rate will be calculated as an average of the interest on granted loans (BUBOR) and the interest offered on deposits (BUBID) on the Romanian interbank market, for three months. ZF