Transilvania Bank will issue AT1 bonds in euros, with a coupon of 7.625%, having perpetual maturity and the first call date in 2030.

Banca Transilvania is preparing to launch a new issue of Additional Tier 1 (AT1) bonds in euros, with an indicative coupon of 7.625%, according to Bloomberg information. The issue, named EUR Benchmark Perpetual Non-Call 5.5 years, will have a fixed interest rate until the first reset date. If the bonds are not redeemed early, the coupon will be recalculated every 5 years, based on the 5-year swap rate plus the initial margin.

Important details include a perpetual maturity, the first call date on November 27, 2030, and the first coupon reset date on May 27, 2031. The issue will be conducted in Reg S format, intended exclusively for eligible counterparties and professional clients, and the funds will be used for general financing and meeting capital requirements. The arrangements are made by Bank of America, BT Capital Partners, JPMorgan, and Morgan Stanley. The issue includes standard clauses for redemption in case of tax changes or regulatory modifications.