BCR senior non-preferred bonds

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The EBRD invested RON 125 million (EUR 26 million equivalent) in the inaugural senior non-preferred (SNP) bonds issued by Banca Comerciala Romana ("BCR"), as part of a total issuance of RON 600 million. This was the first senior non-preferred bond issuance by a bank in Romania and EBRD's countries of operation, following the implementation of the EU Bank Recovery and Resolution Directive, designed to make banking systems more robust. This would allow the bonds to qualify for minimum requirements for own funds and eligible liabilities (MREL), to be set by the National Bank of Romania for BCR. The bonds have a 7-year maturity and were listed on the Bucharest Stock Exchange. The EBRD further invested RON 735.5 million in the bank's subsequent issuances, all listed on the Bucharest Stock Exchange: -      In May 2021 EBRD invested RON 300 million in BCR's second SNP RON 1 billion issuance. -      In October 2021 EBRD invested RON 75 million in BCR's first Senior Preferred (SP) as well as first Green Bond issuance under Erste's Green Bond Framework (GBF), aligned with the Green Bond Principles of the International Capital Market Association. Bonds were also listed on Vienna Stock Exchange. -      In December 2021 EBRD invested RON 56 million in BCR's third SNP bond issuance. -      In March 2022 EBRD invested RON 65 million in BCR's forth SNP bond issuance. -      In June 2022 EBRD invested RON 210.5 million in BCR's fifth SNP bond issuance in a Green Bond format. -      In October 2022 EBRD invested RON 29 million in BCR's sixth SNP bond issuance. EBRD's total investments stands at RON 860.5 million.