As stated by the IFC, the proposed investment is to invest up to US$80 million equivalent (in Romanian New leu or euro equivalent) for IFC’s own account in Minimum Requirement for Own Funds and Eligible Liabilities (MREL) eligible bonds (senior preferred, SP, and senior non-preferred, SNP) to be issued in one or more tranches, including RBRO’s first-ever EUR-denominated benchmark size international bond issuance. The bonds will be listed on Luxembourg and/or Bucharest stock exchanges and issued under the Bank’s Sustainability Bond Framework, approved in April 2022 which is aligned with the International Capital Market Association’s Green Bond Principles, Social Bond Principles and Sustainability Bond Guidelines and, thereby supporting the growth of a sustainable economy in Romania.
The IFC categorized the project as FI-2.
As stated by the IFC, RBRO is a subsidiary of Raiffeisen Bank International (RBI) and one of the systemic banks in Romania. The Bank currently ranks 5th by total assets with 8.85% market share (as of December 31, 2022), has an extended history on the local market and offers a wide range of banking services with a nationwide presence. Raiffeisen Bank Romania serves approx. 2.3 million clients, individuals and legal entities, and has 4,919 employees in 291 outlets. The Bank holds a Long-Term Counterparty Risk Rating and a Long-Term Deposit rating of Baa1/stable outlook from Moody’s.
RBI is Austria's second-largest bank with a balance sheet total of EUR206 billion and equity of EUR17.8 billion as of June 30, 2023. RBI regards Austria, where it is a leading corporate and investment bank, as well as Central and Eastern Europe as its home market, operating in 12 countries. RBI has around 44,000 employees which service 19 million customers through around 1,800 business outlets. RBI is listed on the Vienna Stock Exchange since 2005 with a 41% free float. RBI holds a Long-Term Counterparty Risk Rating of A1/Stable outlook from Moody’s and an Issuer Credit Rating of A-/negative outlook from S&P.
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Financial Intermediary - Raiffeisen Bank S.A.:
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