Romania's Banca Transilvania raises over EUR 10 mln in bond sales, hopes to sell further EUR 19.5 mln
Romanian lender Banca Transilvania (BT) has sold nearly EUR 10.5 million worth of bonds over the last month. The convertible bonds with a seven-year maturity already sold account for a third of the total the bank intends to raise via bond sales.
In the next phase, between today (May 9) and May 21, BT hopes to sell the remaining EUR 19.53 million in bonds via the Bucharest Stock Exchange. The BT bonds will have a variable interest rate of 6.25 percentage points over six months.
BT recorded a small drop in net profits in the first quarter of 2013, compared to the same period last year. Net profits were around EUR 19.3 million for Q1 2013, against some EUR 21 million for the first quarter last year.
editor@romania-insider.com
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