The Romanian Commercial Bank (BCR) has obtained the approval of the Bucharest Stock Exchange (BSE) to list the bonds they issued in November 2006. BSE GM Stere Farmache said the decision also needed approval from the Trading Clearance Commission.
The BCR bonds were issued on November 8th - 21st when 2,428,278 bonds sold for 242.8 million RON (69.18 million EUR). The bonds have a face value of 100 RON, a fixed interest rate of 7.25% per year payable twice per year and a maturity of 3 years.
Most of the bonds (98.63%) were sold to legal entities, whereas only a small fraction (1.37%) went to private investors. Resident and non-resident banks subscribed 56.9% of the bonds, 32.9% went to insurance companies and 5.6% to investment funds.