BRD & ING Romania intermediate NEPI listing on Bucharest Stock Exchange

Anca Alexe 21/12/2017 | 12:38

BRD Groupe Societe Generale and ING Romania have intermediated the technical listing of the issuing of NEPI bonds worth EUR 500 million for NE Cooperatief U.A. (NEPI), covered by NEPI Rockcastle PLC. The primary offer was done on the Irish Stock Exchange in November 2017 by a consortium including ING, JP Morgan and Societe Generale.

NEPI bonds were issued on November 23, with a 1.75 percent coupon, which will come to maturity in 2024. The bonds were issued as part of the medium-term financing framework program (Medium Term Notes) with a total ceiling of EUR 1 billion.

NEPI Rockcastle PLC is the largest commercial real estate company in Central and Eastern Europe, listed on the capital market. Its investment portfolio is focused on retail spaces in Romania, Poland, Slovakia, Czech Republic, Bulgaria, Hungary and Serbia.

Mihaela Bitu, head of Wholesale Banking ING Romania, said: “We are glad that our bank intermediated this technical listing, shortly after we announced our intention of being an active player on the Romanian capital market, either through the intermediation of bond issuances by our corporate clients or through such technical listings which can stimulate security liquidity in the secondary market”.

Irina Neacsu, executive director of BRD’s Corporate Finance Department: “The BRD team is delighted to have been a part of this project of listing the issuance of bonds by NE Property Cooperatief U.A. and is certain that the local capital market will become even more attractive for companies, as well as for financing their development projects. BRD participated as an intermediary in a number of benchmark transactions on the Romanian capital market, a trend which we are determined to continue, thus supporting our clients in this endeavour”.