The total value of the issuance amounted to RON 36.8 mln (€10.3 mln when they were issued, and €1.5 mln less now, due to the depreciation of the leu). The interest rate which is paid every six months is 1.75 percent above the average interbank interest Bubid + Bubor at six months, and the last coupon of the issuance, of 16.67 percent, is to be paid at the end of May
Bank officials did not comment yesterday the way to refinance the debt. “We have not talked about this matter yet,” said Banca Comerciala Carpatica’s main shareholder, Ilie Carabulea.
In spite of its initial attractiveness, few large investment funds purchased BCC bonds. The largest ownership reported at present is that of the Raiffeisen Benefit Fund, worth slightly more than RON 1 mln (€0.24 mln), 5.5 percent of the fund’s assets.
