Govnet

Listing of FP on the London Stock Exchange, approved by shareholders

The Extraordinary General Meeting of Shareholders of Fondul Proprietatea (FP) yesterday approved the secondary listing on the London Stock Exchange, as previously recommended by Franklin Templeton, the Fund’s manager. By this initiative which should be carried out by the end of the year, FP aims at broadening the foreign investor base, increasing demand, as well as expanding coverage of investment banks or brokers.

Moody's changes outlook on Romania's Baa3 rating to stable

Moody’s Investors Service has changed the outlook on Romania’s Baa3 government bond rating to stable from negative following improved fiscal and current account metrics and lower risks to growth and balance of payments from Euro area in 2013, also affirming the P-3 short term rating on government bond, according to a press release.

NEPI raises roughly 80 mln euro for future development and potential acquisitions

The South African investment group NEPI (New Europe Property Investment) has run an equity raising of some 80 million euro through an accelerated book build, funds that will be used to support its future development and potential acquisition opportunities within Romania and the broader Central Eastern Europe region, according to an informing sent to the Bucharest Stock Exchange.

Financial

BCR, BRD, Raiffeisen and UniCredit Tiriac Bank to found the first council of employers in the banking field

BCR, BRD – Groupe Societe Generale, Raiffeisen Bank and UniCredit Tiriac Bank are going to establish the Council of Employers in Romania’s Banking Sector (CPBR), an entity intended to promote its members’ interest in their relations with the authorities, Mediafax informs. The registration procedures have already been initiated, the corresponding documents being submitted to the Bucharest Court, hence it is expected to be completed in the first half of the year – by the end of June 2014.

Hidroelectrica's debt, reduced by 67 pct since insolvency

Hidroelectrica continues reducing its financial liability after refunding the remaining balance of a short-term loan worth 80 million euro granted in 2009 by Alpha Bank. According to the company, last week, it also closed an investment loan of 100 million euro contracted in 2011 from the European Bank for Reconstruction and Development, without drawing under the credit agreement.

Listing of FP on the London Stock Exchange, approved by shareholders

Moody's changes outlook on Romania's Baa3 rating to stable

Bank of Cyprus sold 10 percent of the stake held in Banca Transilvania

FDI, up nearly 36 pct in January-February period in 2014

Increasing exports and imports, as well as higher trade deficit in the first two months of the year

NEPI raises roughly 80 mln euro for future development and potential acquisitions

BCR, BRD, Raiffeisen and UniCredit Tiriac Bank to found the first council of employers in the banking field

Hidroelectrica's debt, reduced by 67 pct since insolvency