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IFC, a member of the World Bank Group, invests 120 million euros in a subordinated issue issued by Banca Transilvania (BT), the second largest Romanian bank in terms of assets held, in order to According to a press release from the International Financial Institution, the consolidation of the capital base and the growth process, and the strengthening of financial markets.
IFC is the leading investor in this 10-year issue The bonds issued have raised 285 million euros with the participation of other international financial institutions
The securities issued are in compliance with the European directive on the capital requirements and the Capital Requirements Directive IV and constitute the first tier 2 instrument in the Romanian market. The securities are tier 2 capital – the second component of the capital of one bank per principal, which includes equity and provisions recorded in the accounting records.
"We are honored by the confidence shown by investors and the appetite for this transaction, which is a first in the Romanian market and will strengthen our level of development. The fact that exclusive global players are involved, such as the IFC and the EBRD, illustrates the value and power of this issue, "said Omer Tetik, executive director of BT
. IFC's relationship with Banca Transilvania began in 2004, when the bank received a priority loan for mortgage-backed loans. Since then, IFC has invested in a range of senior, subordinated and convertible debt securities for this bank, which has been a shareholder since 2009. A stronger equity base will help strengthen BT's financial strength and support the future strategy. Growth of the International Institution
"Public investment builds on past successes in 2005 and 2013 when IFC and BT signed a partnership for the first issue of subordinated convertible subordinated notes in Romania, with the IFC being the lead investor. We hope this transaction is a test for the market, which will pave the way for other issues that will help strengthen the Romanian capital markets, "said Manuel Reyes Retana, IFC Regional Director, Financial Institutions Group. for Europe, Middle East, North Africa
IFC's strategy for financial markets in Central and South-Eastern Europe is to enter into partnerships with systemic banks to support growth and job creation Romania became a member of the IFC in 1990, and IFC has invested about $ 3 billion in Romania since then, and IFC has invested in various sectors and is making efforts to facilitate the transition. Access to finance for small businesses in Romania and in the region.
IFC – the sister organization of the World Bank and member of the World Bank Group – is the largest development institution i International Private Sector Focus in Emerging Markets
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