Metro Group, with turnover worth above 2bn euros on the Romanian market, raised 80m RON through a bond issue launched in July, assisted by Erste Bank and BCR, the Romanian subsidiary of the Austrian bank. The German retailer, operating 24 Metro Cash&Carry stores and 21 Real hypermarkets domestically, is the first Western European company to launch RON-denominated bonds. Bonds issued on 23rd of July were worth 100m RON and have a one-year maturity term and an 11.55% yield, according to Mediafax. Metro representatives specified the raised funds would be used on the Romanian market to finance the development and modernisation of the two units operating domestically, Metro Cash & Carry and Real Hypermarket.
ZF English
Metro group sold RON bonds with an 11.5% interest rate
Metro Group, with turnover worth above 2bn euros on the Romanian market, raised 80m RON through a bond issue launched in July, assisted by Erste Bank and BCR, the Romanian subsidiary of the Austrian bank.