This marks the Romanian bank's debut perpetual NC5.5 AT1 issuance on international financial markets.

The bonds attracted strong investor interest, with over 40 investors initially expressing interest. Within two hours of the announcement, orders reached €2 billion, eventually peaking at €3.25 billion with final orders above €2.65 billion - representing 5.3 times oversubscription.

More than 180 investors from the EU, UK, US and other markets participated in the issuance. The strong demand allowed BT to reduce the coupon rate from an initially expected 7.625% to 7.125%, a tightening of 50 basis points. The final pricing reflects only 200 basis points above the bank's latest senior unsecured transaction in September 2024.

"The AT1 bond issue complements our solid capital position, while allowing for a more diversified capital structure, to the benefit of our shareholders and customers," said Ömer Tetik, BT's CEO. "I am particularly thrilled to see high interest from international markets. It means that BT and Romania continue to represent an attractive investment case."

The bonds are denominated in euros with early redemption option from 27 November 2030 and minimum subscription of €200,000. The coupon resets every five years with first reset on 27 May 2031. The bonds will be listed on Euronext Dublin and have received a B1 rating from Moody's. This brings Banca Transilvania's total bond issuances since 2023 to almost €3 billion.

The bonds sale was coordinated by Bank of America Securities Europe, BT Capital Partners, J.P. Morgan, Morgan Stanley Europe. The legal advisors were Filip & Company, Freshfields Bruckhaus Deringer, Clifford Chance Badea and Clifford Chance, and the financial auditor was Deloitte Audit.