Banca Transilvania - Convertible Bond

Location:

Romania

Project number:

44149

Business sector:

Financial institutions

Notice type:

Private

Environmental category:

FI

Target board date:

10 Jul 2012

Status:

Signed

PSD disclosed:

14 May 2013

Translated version of this version: Romanian

Project Description

The EBRD has subscribed EUR 4.4 million in the subordinated unsecured convertible bond issue of Banca Transilvania by exercising its pre-emptive rights. EBRD’s subscription was calculated pro-rata to its shareholding in the issuer.

The proceeds are envisaged to help strengthen Banca Transilvania’s capital base.

Transition Impact

Transition impact potential derives from supporting Banca Transilvania’s subordinated unsecured convertible bond issue which will demonstrate a new way of financing activities for the Romanian banks, as bond issuances, apart from the sovereign ones, have been limited in Romania.

The Client

Banca Transilvania is the third largest bank in the Romanian banking system with a market share of 8.1%. EBRD is the single largest shareholder in the bank with a 14.6% stake.

Banca Transilvania is listed on the Bucharest Stock Exchange. It is rated BB- (with stable outlook) by Fitch.

EBRD Finance

EUR 4.4 million.

Project Cost

Up to EUR 30 million.

Environmental Impact

Categorised FI. Banca Transilvania will be required to continue to comply with the EBRD's Performance Requirements 2 & 9 and the EBRD’s Environmental and Social Procedures for Corporate Lending. This will include adherence to the EBRD's Environmental and Social Exclusion Lists and submission of annual environmental and social reports to the Bank.

Technical Cooperation

None.

Company Contact

Banca Transilvania
Cluj-Napoca, George Baritiu Street, no. 8
E-mail: bancatransilvania@bancatransilvania.ro

Contact: Ms. Mihaela Nadasan – Executive Director, Head of FI & International Relations
Phone: +40 264 301 107
Fax: +40 264 407 179
Email: mihaela.nadasan@btrl.ro

 

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

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Text of the PIP

Project Complaint Mechanism (PCM)

The Project Complaint Mechanism (PCM) is the EBRD's accountability mechanism. It provides an opportunity for an independent review of complaints from individuals and organisations concerning EBRD-financed projects which are alleged to have caused, or are likely to cause, environmental and/or social harm.

Please visit the Project Complaint Mechanism page to find information about how to submit a complaint. The PCM Officer (pcm@ebrd.com) is available to answer any questions you may have regarding the submission of a complaint and criteria for registration and eligibility, in accordance with the PCM Rules of Procedure.