Background

IBEC invests in BT LEASING TRANSILVANIA bonds to support SME and sustainable-energy sectors

International Bank for Economic Co-operation took part in the bonds placement of the Romanian company BT LEASING TRANSILVANIA IFN S.A. The debut issue of BT Leasing securities was implemented through a private placement among institutional investors. The total amount raised is 40 million euros. IBEC acquired 14% (EUR 5.6 million) of the total issue. The organizer was BT Capital Partners, a division of investment banking and capital markets, Banca Transilvania Financial Group.

The bonds were issued in two tranches, respectively with a maturity of 6 years, with a floating coupon rate of Euribor6M+2%, and with a maturity of 5 years with a floating coupon rate of Euribor6M+1.75%. For the Romanian capital market, this was the first issue of securities denominated in euros with a floating coupon and two tranches with different maturities. Both tranches were authorized to trading on the regulated spot market of the Bucharest Stock Exchange.

The proceeds from the bond will support economic activity among SMEs, which have limited access to funding in Romania. In addition to supporting SMEs IBEC invests in the energy-efficiency and renewable-energy sectors, as half of the investment is earmarked for sustainable-energy projects.

Ionut Morar, BT Leasing's General Director commented on the placement objectives: “For BT Leasing, this bond issue means financing new leasing contracts. We want to support Romanian companies, especially in the SME sector, so that they are more and more competitive in their field of activity”.

“Participation of IBEC in the placement of the Romanian company’s securities meets several of our goals at once,” said Denis Ivanov, Chairman of the IBEC Board. “We have profitably and efficiently placed available funds, assisted in development of the leasing programs for small and medium-sized businesses and participated in a landmark transaction for the Romanian stock market”.

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