Banca Transilvania sold bonds worth 500 million euros on November 29, with investors placing orders exceeding 1.65 billion euros. 90% of the total issue was subscribed by international investors from 21 countries. 108 investors subscribed to the offer - investment funds, financial institutions, pension funds, commercial and central banks, as well as insurance companies and commercial companies.

The issue was oversubscribed in just a few hours, which allowed the interest rate to decrease from 7.75% at the beginning of the order placement operation to 7.25% at the end. It is the first bond issue with an ESG-type label, with a social component (at least 50%) and a green component, and it is listed on Dublin Stock Exchange. Bonds are of the MREL type, contributing, according to European standards, to ensuring an optimal level of eligible MREL funds, distinct from client deposits, which are guaranteed by the Deposit Guarantee Fund.

The sale of the bonds was coordinated by the arrangers JP Morgan SE, Citigroup Global Markets Europe AG, ING Bank N.V (which was also the sole sustainability advisor), and BT Capital Partners was the co-manager. The legal advisors were Filip&Company, Freshfields Bruckhaus Deringer LLP, Clifford Chance Badea, and Clifford Chance LLP. Deloitte Audit SRL acted as financial auditor, and KPMG Tax SRL was the tax advisor.

BT bond issues from 2023:

• Within bond issuance debut, the bank raised 500 million euros from investors, who placed orders of over 850 million euros. It was the moment when the bank debuted on the international market (April).
• BT has increased the international bond issuance with 100 million euros, as a result of the high interest from institutional investors regarding the first bond issuance (June).
• Banca Transilvania received 200 million euros from IFC and Asian Infrastructure Investment Bank, part of a subordinated bond package. The financing is of the subordinated debt type and is listed on the Bucharest Stock Exchange (July).
• BT supplemented the bond issuance program with 190 million euros by issuing bonds, thus reaching almost 1 billion euros (August).