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Raiffeisen Bank Romania plans 500 mln lei bond issue in Q2-paper
January 20, 2014 / 10:27 AM / in 4 years

Raiffeisen Bank Romania plans 500 mln lei bond issue in Q2-paper

BUCHAREST, Jan 20 (Reuters) - The Romanian unit of Raiffeisen Bank plans to issue 500 million lei ($149.55 million) worth of five-year bonds in the second quarter, a bank official was quoted as saying by daily Ziarul Financiar.

The bank sold 225 million lei worth of three-year bonds with a coupon of 5.5 percent in July 2013.

Earlier this month Romania’s central bank surprised markets by lowering lenders’ minimum reserve requirements for liabilities in both leu and foreign currencies, which will free up a lot of funds on the market.

“It is true we will have additional liquidity ... but we want to keep issuing and the five-year maturity is important,” said James Stewart, a bank executive. ($1 = 3.3435 Romanian lei) (Reporting by Ioana Patran; Editing by Luiza Ilie)

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