The 7-year senior non-preferred bonds offer a coupon of 8.875%, with an option for redemption after six years and a minimum subscription of RON 600,000 (€120,684). The bonds will be listed on the Bucharest Stock Exchange (BVB) in July 2025.
The issuance, rated BBB- (Investment Grade) by Fitch, garnered significant interest from both local and international investors, underscoring growing confidence in the Romanian capital market. Notably, half of the initial investors were Romanian institutional entities, including investment funds, pension funds, and commercial banks.
Ömer Tetik, CEO of BT, said: "With this issuance in RON, we have diversified the investment options for local investors and we are pleased to see the high interest shown by the market. The funds attracted, together with the capitalization of most of last year's profits, help us sustain the lending to both companies and retail clients, with immediate effects on the economic growth".
The capital raised will be allocated to financing sustainable projects, aligning with BT's Sustainable Finance Framework and fulfilling Minimum Requirement for Own Funds and Eligible Liabilities (MREL) criteria. This latest issuance brings the total value of the five bond issues launched by BT since 2023 to nearly €2.5 billion.
The bond sale was coordinated by BT Capital Partners, BCR, Raiffeisen Bank, and Alpha Bank Romania.
Legal advisory was provided by Filip & Company, Freshfields Bruckhaus Deringer, Clifford Chance Badea, and Clifford Chance, with Deloitte Audit serving as the financial auditor.
