This bond issuance represents BT's first Investment Grade instrument, rated BBB- by Fitch Ratings. The transaction was coordinated by Goldman Sachs Bank Europe SE, J.P. Morgan, Morgan Stanley, Nomura, and BT Capital Partners. The orderbook reached €3.8 billion, with orders placed by over 200 institutional investors from 32 countries, predominantly from Europe (46%), as well as from the United Kingdom, the United States and Asia.
"We thank investors for their confidence in BT and in Romania. The result of this bond issuance, with demand nearly four times higher than the amount offered, once again confirms BT's performance and Romania's attractiveness to investors," stated Ömer Tetik, CEO of BT. "The funds raised will help us support our clients, the local economy and investment projects."
The bonds mature in 2032, will be listed on the Dublin Stock Exchange (Euronext Dublin), and are eligible for the Minimum Requirement for Own Funds and Eligible Liabilities (MREL). Since 2023, BT has raised nearly €4 billion through seven bond issuances completed to date.
The legal advisers were Filip & Company, Freshfields Bruckhaus Deringer, Clifford Chance Badea and Clifford Chance. Deloitte Audit acted as financial auditor, and KPMG Tax served as tax adviser.
