UniCredit Tiriac Bank Sets 6.35% Coupon On 5-Year Bond

Romanian lender UniCredit Tiriac Bank has set a coupon of 6.35% on its five-year bond issue launched June 14.

UniCredit Tiriac, a unit of Italy”s banking group UniCredit, hopes to attract at least 500 million lei (EUR111 million) during the offer, which is due to complete on June 21.

The bank issued 50,000 bonds with a face value of RON10,000. The number of bonds might be increased up to 70,000 if the issue is oversubscribed, UniCredit Tiriac said.

Minimum subscription was set at 50 bonds.

UniCredit Tiriac Bank reported a net profit of RON60 million in the first quarter, 166% higher on the year. Total revenue rose 16% to RON352.4 million. (EUR1=RON4.4992)