12:41 2023-02-07
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_ CEC Bank raises over 119 ml euros through a new international bond issue
CEC Bank raises over 119 ml euros through a new international bond issue
CEC Bank raised on February 7 over 119 million euros (more than 587 million RON) through a new international placement of MREL-eligible bonds, which brings to 1.2 billion RON the total funding raised from capital markets through the three MREL-eligible bond tranches, the bank informs in a statement.
"We are proud that CEC Bank is attractive to institutional investors, all the more so as the market context is difficult and marked by uncertainties both from a macroeconomic and a geopolitical point of view. This year we will further pursue growth plans and attracting resources and capital to finance the Romanian economy," said CEC Bank CEO Bogdan Neacsu.
CEC Bank's bond program is brokered by a consortium made up of Citigroup, Raiffeisen Bank International and Raiffeisen Bank Romania assisted by Clifford Chance (through its offices in Frankfurt and Bucharest). Dentons acts as the issuer's legal counsel for the program.
CEC Bank intends to list the latest bond tranche both on the Luxembourg and the Bucharest Stock Exchange.
Founded in 1864, the state-owned CEC Bank currently operates the most extensive national network with over 1,000 branches and territorial units and with assets of over 53.4 billion RON as of mid-2022. CEC Bank is a universal bank that provides a complete range of products and services to individuals, SMEs and large corporations through multiple distribution channels: bank units, ATM networks, internet & mobile banking, and the CEC_IN virtual store - where banking products and services can be accessed 100 percent online. AGERPRES
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