According to the disclosure page, the project entails an IFC investment of US$52 million (in Romanian Leu equivalent) in MREL (Minimum Requirement for own funds and Eligible Liabilities) eligible bonds to be issued by Banca Comerciala Romana (“BCR” or the “Bank”), an existing IFC client in Romania. The bonds are unsecured Senior Non-Preferred instruments and will be listed on the Bucharest Stock Exchange. The investment will be used to support the growth of the Bank’s housing portfolio including green mortgages.
The Project is intended to increase access to housing finance and climate finance (in the form of green housing loans), two of the most underserved segments in the Romanian economy. The project is also expected to promote a more dynamic domestic corporate bond market by increasing the diversity of instruments, tenors and issuers.
Banca Comerciala Romana S.A.
Senior Banker, Corporate Finance Division
Bucharest, 159 Calea Plevnei, Business Garden Bucharest, Building A, 6th floor, 6th District.
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