BT Capital Partners, the investment banking and capital markets arm of the Banca Transilvania Financial Group, acting as Lead Manager alongside BRD - Groupe Societe Generale and ING Bank as Managers, has arranged the fourth corporate bond issue listed on the Bucharest Stock Exchange for International Investment Bank (IIB), settled in RON and EUR, with a total value of approximately EUR 145 million.

The offering was successful, attracting subscriptions from institutional investors in Romania and abroad, as well as Romanian high-net-worth investors.

The size of IIB’s issues has increased steadily year by year, from RON 111 million (2015) to RON 300 million (2016), EUR 125 million (EUR 60 million + RON 300 million in 2017), reaching about EUR 145 million (RON 300 million + EUR 80 million) this year. The proceeds will be used to finance the existing loan portfolio and new lending to European Union member states, as well as to refinance debt.

• “We are honored by the trust that International Investment Bank places in BT Capital Partners. We are pleased to have turned an initiative into a tradition, innovating this year by adding the option to reopen a corporate bond issue, a first in Romania.” – said Paul Prodan, Chairman of the Board of Directors of BT Capital Partners.
• “We are glad to have contributed to the success of this IIB offering and, in doing so, to indirectly support the financing of projects in the Romanian economy.” – said Irina Neacsu, Executive Director, Corporate Finance, BRD Groupe Societe Generale.
• “This successful IIB issue also marks ING’s return to the local capital market. In this way, we can actively contribute to developing non-bank financing in the Romanian market, diversifying funding sources for companies and financial institutions. We aim to continue stimulating interest from both issuers and investors in such transactions, through the efforts of our local team and by mobilising ING’s international network. Congratulations to the IIB team on this achievement!” – said Mihaela Bitu, Head of Wholesale Banking, ING Bank Romania.
• “The rating upgrades awarded this year by Standard & Poor’s and Moody’s, in the context of IIB’s ongoing diversification of lending and funding and the continuous improvement in the quality of its treasury assets, translated into tighter spreads for both tranches compared with IIB’s transaction last year.” – said Nikolay Kosov, IIB President.
• “IIB successfully reduced the spread on the RON tranche by 10 basis points and on the EUR tranche by 25 basis points versus last year’s transaction, closing the new deal at 3M ROBOR + 140 basis points for the RON tranche and mid-swaps + 140 basis points for the EUR tranche.” – noted Jozef Kollar, Deputy Chairman of IIB, responsible for funding.

International Investment Bank issued 8,000 euro-denominated bonds with a nominal value of EUR 10,000 at a fixed interest rate of 1.5026% per annum, payable annually starting on October 15, 2019, and 30,000 RON-denominated bonds with a nominal value of RON 10,000 at 3-month ROBOR + 1.4% per annum, payable quarterly starting on January 15, 2019, with principal repaid at maturity.