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International Investment Bank bonds issue debuted on the Bucharest Stock Exchange

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Autor: Bancherul.ro
2015-10-16 10:43

The bonds issued by International Investment Bank debuted on Thursday, October 15, 2015, on the Bucharest Stock Exchange (BVB). The total value of the issuance is RON 111mn (EUR 25mn), said BVB in a statement.

“We are glad that the supply of financial instruments on the Bucharest Stock Exchange becomes increasingly diverse. The IIB project proved to be a successful offering, also in terms of the time needed to complete the deal, which was fairly short. It can serve as a good example to other projects in the domain of debt instruments or equities alike”, stated Ludwik Sobolewski, BVB CEO.

There were issued 11,100 bonds with a nominal value of RON 10,000, for which International Investment Bank will pay, on an annuall basis, an interest rate of 4.1% p.a.

“This bond is not only IIB's first local currency bond outside of the country of our headquarters, but it is also significant in two major ways. First, after Russia and Slovakia, Romania is the third country where we have committed ourselves to the development of the local capital market. In fact, this is the largest issue of any international financial institution on the Romanian market in the past 6 years. And secondly, as testified by our latest transactions, Romania has become one of the leading destinations for our investments and today's bond will allow us to further support this growth of our operations in the country. In this sense, the IIB aims to channel the liquidity on the market to sustainable and socially viable economic activities”, stated Denis Ivanov, Deputy Chairman of the Board, International Investment Bank

The bonds issued by International Investment Bank were bought by 13 Romanian institutional investors.

The lead manager of the offer was BT Securities, part of the Banca Transilvania financial group.

The International Investment Bank has 9 Member States: Czech Republic, Hungary, Mongolia, Republic of Bulgaria, Republic of Cuba, Romania, Russian Federation, Slovak Republic and Socialist Republic of Vietnam. Romania has a 6.1% share in the International Investment Bank´s paid-in capital. Among the companies recently financed by International Investment Bank are the cables producer Romcab and Agricover.

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