Romania BRD plans to issue bonds worth 600mn euros

BUCHAREST: Romania's second-largest bank BRD plans to issue bonds worth up to 600 million euros ($864 million) this year and next, it said in a statement after its general shareholders meeting on Thursday.

The debt issues may be denominated in the local leu currency or other hard currencies. BRD also said it will pay a pre-tax dividend of 0.17957 lei per share for 2010.

Payment of a dividend for 2010 was to be decided by shareholders, CEO Guy Poupet said in a Reuters interview in March, adding the bank had previously paid dividends and aimed to make a profit for its shareholders.

BRD, controlled by French bank Societe Generale, posted a smaller than expected 2010 net profit due to provisions made for bad loans.