Govnet

NEPI gets about 100 mln euro through a book build

New Europe Property Investment has run an equity raising of approximately 100 million euro through an accelerated book build on the Johannesburg Stock Exchange, funds which will be used to finance three recently announced acquisitions - Aurora Shopping Mall and Alba Iulia Strip Mall in Romania in Romania and Kragujevac Plaza Shopping Mall in Serbia, as well as future development and extension pipeline, along with possible further acquisitions.

EIB lends 150 mln euro to Banca Transilvania for SMEs, midcaps and municipalities

Banca Transilvania has been approved a credit line of 150 million euro by the European Investment Bank (EIB), amount which will be allocated to projects to be promoted by small and medium-sized enterprises, midcap companies and public entities operating in Romania’s industry, services, agriculture and infrastructure sectors.

NEPI runs an 80 mln euro equity raising to fund acquisitions in Romania and Serbia

The South African investment fund has announced an equity raising of roughly 80 million euro through an accelerated bookbuild opened on October 22, 2014, at 09h00 (South African time), NEPI reserving the right to close it at any time. Also, the size of equity raise could be increased, depending on demand.

S&P affirms ratings on Romania at ‘BBB-/A-3’. The outlook is stable

Standard & Poor’s has affirmed the long and short-terms foreign and local currency credit ratings on Romania at ‘BBB/A-3’, maintaining the outlook stable.

The credit rating agency explains through a release that the ratings are supported by “Romania’s low and declining external debt stock, its narrowing general government deficits, and moderate stock of general government debt amid relatively firm growth prospects”.

IMF revises Romania’s economic growth forecast to 2.4 pct

The International Monetary Fund has revised the latest estimation on Romania’s economic progress (2.8 percent in July 2014) to 2.4 as per the World Economic Outlook report released on 7 October. Although anticipating a slower growth rate, the estimation is improved compared to the initial prediction of 2.2 percent. For the next year, though, the IMF maintained the projection, expecting an advance by 2.5 percent of the GDP.

Financial

The Ministry of Finance issues a bill for amending the capital market law

The Ministry of Finance issued a draft law for amending the Law no. 297/2004 on the capital market. The bill, which can be checked on the ministry’s website, is aimed at aligning the current legislation to the existing standards in order for Romania be ranked as an emergent capital market, thus increasing external visibility and attracting new investors. This legislative approach is part of a broader initiative of a working group lead by the Bucharest Stock Exchange and which comprises representatives of the domestic capital market, the Financial Supervisory Authority and of the National Bank of Romania.