The shareholders of Romanian lender Patria Bank, controlled by private equity fund Emerging Europe Accession Fund (EEAF), approved the issue of 20 million bonds with a maturity of 8 years and a total nominal value of EUR 10 mln.

The management will have the option to supplement the issue to 30 million bonds (EUR 15 million).

The bank’s market capitalisation as of April 10 was EUR 55 mln.

The bonds will be unsecured, non-convertible, subordinated and denominated in euro.

The bonds will have a fixed coupon payable twice a year and will be issued under a private placement therefore no offer prospectus will be drafted.

The shareholders also approved the admission of the bonds to trading on the Bucharest Stock Exchange and appointed local brokerage house Tradeville as intermediary of the offer.

(Photo courtesy of the company)

editor@romania-insider.com