Analysts say that EBRD bonds will be a benchmark for local companies intending to borrow on the equities market. The shares have the top “Aaa” rating from all the major rating agencies.
“The most important piece of information is that the listing on the local Stock Exchange is desired. The sum is not very large, which means that this issue is more of a test. If it is successful, probably other issues will follow, launched by EBRD on the Romanian market,” said the Deputy General Manager of the Intercapital Invest brokerage company, Adrian Lupsan. He added that over 70-80 percent of the bonds will likely be underwritten by foreign institutional investors.
The EBRD bond issue is part of the bank’s strategy to support the development of the Romanian capital market, said the institution’s representatives. The issue should attract the attention of foreign investors for the national currency, and also facilitate EBRD’s access to local investors.
