Raiffeisen Bank doubles bond market

Raiffeisen Bank’s bond issue concluded at the end of last week was oversubscribed, even though the bank had upped its issue by 15%. Raiffeisen’s bond issue is worth almost the same as all the other post WW2 municipal and corporate bond issues put together. The local authorities have released 750bn ROL in bonds thus far, while corporate bond issues amounted to just over 600bn ROL. Raiffeisen received requests from buyers for over 1,400bn ROL but will not be issuing more than 1,380bn ROL (34 million euros) in bonds. The offering had initially amounted to 1,200bn ROL (29.7 million euros) but the prospectus allowed increasing it by 180bn ROL. “We got subscription requests for about 1,400bn ROL and the offering was upped by 15%, as provided for in the issue prospectus,” Dragos Neacsu, Raiffeisen Capital & Investment’s chairman told Ziarul Financiar. He added the above-mentioned figures were just preliminary, as not every investor payment had yet been confirmed. Raiffeisen Capital & Investment, the bank’s brokerage firm teamed up with Alpha Finance to form a syndicate to handle the offering. ZF