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CEC Bank will issue bonds to meet regulatory requirements


CEC Bank, the largest credit institution controlled by the Romanian state through the Ministry of Finance, is preparing to list at the Bucharest Stock Exchange a bond issue as part of a program of regulatory requirements, according to statements made by Bogdan Neac?u, the executive president of the bank.


The bank expects to get a rating from an international agency by the end of February.


The bank was valued in Ziarul Financiar's Biggest 100 Romanian Companies report at about EUR 1.1 bln (EUR 5.5 bln), up 25% y/y, which put it in the 25th position.


We want to tap the market with subordinated bonds. (…) We are doing this during 2022, we have not yet set a timetable, but we will announce it very soon," Bogdan Neacsu, president of CEC Bank, said, quoted by Ziarul Financiar.