Tirana Bank announced the issuance of Euro 5 million long-term corporate bonds. The underlying bonds have a 7-year term and carry a fixed interest rate of 3.30% per annum, payable semi-annually. The funds raised from the issuance of the bonds will enhance the supplementary capital of the Bank, in accordance with the applicable laws and the approvals from the regulatory authorities.
Chief Financial Officer of Tirana Bank, Elvira Kapoli stated: “We are pleased to announce the successful completion of our Bank’s first corporate bonds issuing. It was well-received by the investment community and completed on favorable terms, demonstrating the financial strength of our Bank and the strong loyalty of our customers. It is in our vision to enhance the financial support for our clients and the local economy as well as the consistent implementation of our sustainable growth strategy.”
The bond represents one of the largest single issuance of such debt in the local marketplace that was fully subscribed by retail and high net-worth customers. There was greater subscription demand than the initial bond offering confirming the investors’ confidence in Tirana Bank and Balfin Group to make long-term investments, even in challenging times.
Source: Monitor Magazine