The European Bank for Reconstruction and Development (EBRD), one of the largest institutional investors in Romania, has launched a bond issue in Romanian currency (RON) worth RON 100 million (EUR 22.6 million), according to Reuters.

The bond issue is for five years and pays a variable yearly coupon which is equal to the Romanian interbank lending interest ROBOR (1.76%) plus a 0.65% margin. The bonds will be traded on the Bucharest Stock Exchange and the London Stock Exchange.

The main intermediary of the issue is Raiffeisen Bank International. This is EBRD’s second bond issue in RON. The bank also launched a 10-year bond issue, in 2009, worth EUR 29 million.

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