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UniCredit Tiriac Bank issued 5-year bonds worth 500 million RON, with an interest rate of 6% per year

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2013-06-14 08:55

UniCredit Tiriac Bank said that during 6/14/2013, 9:00 – 21/06/2013, 13:00 will issue bonds of 500 million RON, with a maturity of 5 years, with a minimum interest rate of 6% per year. The initial offering is 50,000 bonds, each with a nominal value of RON 10,000. The minimum subscription is 50 units.

Here is the bank press release:

The Financial Supervisory Authority (FSA) has approved, by decision no A110/13.06.2013, the initial selling offer of corporate bonds issued by UniCredit Tiriac Bank, targeting RON 500M.

Thus the bank is issuing corporative bonds in RON, senior, unsecured, with 5 year maturity, due in 2018, denominated in dematerialized form.

The initial offering is 50.000 bonds, each amounting to RON 10.000. Should the subscription exceed this number/, UniCredit Tiriac Bank may increase the number of bonds to a maximum of 70.000 units. The minimum subscription amount is 50 units.

The offer will be considered successfully completed if minimum 70% of the target amount is subscribed.

The offer will be declared open on 14.06.2013, at 9:00 am and will be declared closed on 21.06.2013, 1:00 pm.

The subscriptions will be registered exclusively by the issuance intermediary, SSIF BROKER, with its headquarters located at 16 Splaiul Unirii, 8th floor, rooms 802-804, Sector 4, Bucharest, between 09:00 – 17:00, EET, on every working day of the offering period, except for the last day of the offer, when subscriptions can only be registered between 09:00 – 13:00 EET.

„We are firmly confident in the success of our bond issuance, considering the early discussions we have had with institutional investors both local and international and their positive reactions. This bond issuance is an important element in our long term strategy to diversify our financing sources, and the terms of the issuance were carefully selected after a detailed monitoring and projection of the market conditions. Through this initiative, we reaffirm our strong long-term commitment to Romania and to the development of the local capital market”, said Rasvan Radu, CEO / Executive President of UniCredit Tiriac Bank.

The coupon is of minimum 6% per year. The final coupon will be publicly announced no later than on the fourth business day of the offering opening, in accordance with the regulation in place. Coupon payments will be made on June 15th and December 15th each year, the bonds being due 15.06 2018.
The net funds resulting from the bond issue, after payment of commissions, fees and other charges, will be used for general funding purposes of the bank.

The issue will be registered for trading on the Bucharest Stock Exchange (BSE).

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