Background

IBEC expanded its “Development portfolio”

The International Bank for Economic Co-operation has acquired green Eurobonds from Ceska Sporitelna, the largest bank in the Czech Republic. Securities with maturity of 7 years were issued in the amount of EUR 500 million. The coupon is 0.5%, the yield at the offering price is 0.52%. IBEC participation amounted to EUR 3.5 million.

The bond issue is part of a large-scale program in support of the Sustainable Development Goals, which is being implemented by the main shareholder of Ceska sporitelna, the Austrian Erste Bank Group. It is one of the largest financial groups in Central and Eastern Europe with over 200 years of history, 16 million clients, and offices in 7 countries, including the Czech Republic and Romania.

Sustainable development, social partnership, ecology and quality of life are the key components of the Erste Group philosophy. Sharing the UN Sustainable Development Goals, Erste Group is consistently developing and orienting its business model to contribute to achieving them. Having a whole portfolio of financial instruments, such as green and social bonds, the group members use resources raised to implement sustainable development projects.

Taking part in the debut placement of green bonds of a Czech bank, IBEC supports socially significant projects of Ceska sporitelna, and in accordance with its strategy, replenished the “development portfolio” with green bonds of a reliable issuer.

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