Romanian lender CEC Bank listed a new issue of bonds worth EUR 300 million on the regulated market of the Bucharest Stock Exchange (BVB) on Friday, December 20.

The senior non-preferred unsecured bonds, with an annual interest of 5.625% and maturity in 2029, were issued under the bank's EUR 1.5 billion Medium-Term Note (MTN) Program and are eligible for MREL (Minimum Requirement for Own Funds and Eligible Liabilities) requirements. The bonds were rated BB by Fitch.  

The issue of bonds, under the ticker symbol CECRO29E, has been listed with the Luxembourg Stock Exchange since November of this year.

The bonds that CEC Bank issued in 2022 and 2023, CECRO25 and CECRO25E, worth over RON 650 million and CECRO28E, worth EUR 281.9 million are also listed at BVB.

"Our strategy in the coming period remains ambitious, focused on organic growth and improved profitability, adapting our business model to promptly and efficiently meet the needs of our clients. Under these circumstances, CEC Bank's presence on the capital markets will be recurring in the next years, as they will play an increasingly important role in our funding strategy," Ionut Lianu, Chief Balance Sheet Officer of CEC Bank, said.

CEC Bank mandated Erste Group Bank AG and ING Bank NV as Joint Bookrunners and Co-Arrangers of the bond issue, while BT Capital Partners acted as Co-Manager and intermediary of the bonds listing at BVB. Dentons acted as legal advisor to CEC Bank, while Erste Group Bank AG and ING Bank NV were advised by Clifford Chance, through their offices in Bucharest and Frankfurt.

(Photo: CEC Bank)

simona@romania-insider.com