UniCredit Bank Romania will issue new bonds worth EUR 400 mln starting on October 22 this year, after the expected approval from the shareholders at the extraordinary general meeting of October 21, according to the bank's announcement.

The bonds will be non-preferential senior type, with a nominal value of EUR 250,000 per piece, with a maturity of 3-7 years. The bank's Board of Directors will determine the exact duration.

The bank's loans to deposits ratio is 85%, and the volume of deposits exceeds the stock of loans by EUR 1.3 bln, Ziarul Financiar commented implying that the bonds will add more resources to the bank at a moment when it already has a pile of money from its customers.

Furthermore, UniCredit Bank contracted a EUR 50 mln loan from the EBRD "to further increase its funding base and continue supporting the economy." 

andrei@romania-insider.com

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