Budapest-based International Investment Bank (IIB), a development bank whose members are mainly former communist countries, has raised RON 500 million (EUR 105 mln) through a new bond issue denominated RON, which will be listed on the Bucharest Stock Exchange.

This is the fifth bond issue the IIB has carried in Romania. It will have a maturity of three years and a fixed 3.98% coupon payable annually, as shown in the documents published on the Stock Exchange and consulted by Ziarul Financiar.

The bonds received a A3/stable rating from Moody's, BBB+/positive rating from Fitch and A-/stable from Standard & Poor's.

BT Capital Partners and ING Bank managed the bond placement. The bonds will begin trading on the Bucharest Stock Exchange around November 7.

editor@romania-insider.com

(Photo source: Inquam Photos/Diana Oros)