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The bonds issued by Garanti Bank are traded at the Bucharest Stock Exchange

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Autor: Bancherul.ro
2014-07-03 12:17

Garanti Bank’s corporate bonds issued on June 3rd, 2014, after the Offering Period started on May 26th, 2014 and early-closed on May 27th, are available for trading on the regulated market managed by the Bucharest Stock Exchange (BVB) starting today, June 25th, at 9:45 AM. The Commission for the Admission to Trade and The Bucharest Stock Exchange Board admitted the trading of the 30,000 bonds on the 19th, respectively 20th of June, 2014 and included the bonds within the Credit Titles Sector, Tier 3, said the bank in a statement.

The bonds issued have a total nominal value of LEI 300 million (LEI 10,000 / bond) and bear an annual coupon of 5.47%, paid annually. The bonds have a 5-year maturity, being due on May 15th, 2019, with the principal paid at maturity (bullet-repayment). The ISIN code is ROGABRDBC011 and the symbol GBR19.

“We opened the bonds issue on the May 26th and closed early just a day later, due to the full subscription, which showed a keen interest from the qualified investors. We expect to see the same level of confidence in Garanti Bank starting today, June 25th, and through this success to also contribute to the development of the local capital market”, stated Ufuk Tandogan, CEO Garanti Group Romania.

This bonds issuance represents Garanti Bank’s first on the Romanian market.

For the past years, the bank has been constantly growing all its business lines, namely retail, SMEs and corporate, currently ranking 12th by assets in the Romanian banking sector. Garanti Bank has registered both in 2013, as well as in the first months of 2014 results above the market average in all segments, developing a very healthy client portfolio and succeeding to maintain a sustainable development.

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