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Raiffeisen Bank International AG has successfully raised €650 million ($685.6 million) in new Additional Tier 1 bonds, following a previous failed attempt due to challenges in exiting its Russian operations. The bonds were priced with a coupon of 7.375%, lower than the initial 7.75% estimate, amid investor demand exceeding €870 million.
Raiffeisen Bank International AG has successfully raised €650 million ($685.6 million) in new Additional Tier 1 bonds, following a previous failed attempt linked to its Russian operations. The bonds were priced with a coupon of 7.375%, lower than the initial 7.75% estimate, attracting over €870 million in investor bids.
Raiffeisen Bank International AG (RBI) plans to repurchase its EUR 650,000,000 Fixed to Reset Rate Additional Tier 1 Notes from 2017, with a purchase price of 101.875%. The Tender Offer will run from November 18 to November 25, 2024, with settlement expected around November 27, 2024. Additionally, RBI may issue new perpetual fixed rate Additional Tier 1 Notes in Euro, subject to market conditions.
Raiffeisen Bank International AG (RBI) announced a tender offer to repurchase its EUR 650,000,000 Fixed to Reset Rate Additional Tier 1 Notes, originally issued in 2017, at a purchase price of 101.875%. The offer, which begins on November 18, 2024, and ends on November 25, 2024, is contingent on market conditions and is not available in the United States or other restricted jurisdictions. Holders must comply with local legal provisions when participating.
Raiffeisen Bank's stock ranking has fallen from 686 to 762 in the latest trend analysis by the BOTSI®-Advisor, which manages a model portfolio that has averaged a 27.5% annual return since 1999. The BOTSI®-Advisor focuses on the strongest trending stocks globally, offering easy replication for investors.
Raiffeisen shares, traded on the Vienna Stock Exchange, have seen a significant decline over the past five years. An investment of EUR 100 in Raiffeisen shares, valued at EUR 21.80 five years ago, is now worth EUR 83.62, reflecting a negative performance of 16.38%. The current share price stands at EUR 18.23, with a market capitalization of EUR 5.96 billion.
Plug Power Inc. reported a 12.6% decline in third-quarter sales to USD 173.7 million, significantly missing the consensus estimate of USD 210.2 million. The company also posted a loss of USD 211.2 million, exceeding forecasts, and has adjusted its full-year sales outlook down to USD 700 million to USD 800 million from previous estimates of USD 823.5 million. Following these results, the share price fell approximately 1.5% in pre-market trading, with a "Sell" recommendation issued by Raiffeisen Bank International AG.
The European Central Bank is urging Raiffeisen and UniCredit to maintain capital reserves to mitigate risks associated with their operations in Russia, where they lack effective control. This move may lead to adjustments in the banks' capital requirements, reflecting their exposure to both Russian market risks and risky commercial real-estate loans. Raiffeisen has indicated that its capital requirements will increase starting next year, highlighting the ongoing challenges of operating in Russia post-invasion of Ukraine.
The European Central Bank is urging Raiffeisen and UniCredit to maintain capital reserves to mitigate risks associated with their operations in Russia, where they lack effective control. This move could lead to increased capital requirements for both banks, which are already facing pressure to reduce their Russian exposure amid regulatory tensions. Raiffeisen is also addressing concerns over its commercial real estate loans, while UniCredit has initiated legal action against the ECB's directives.
The European Central Bank (ECB) is urging Raiffeisen Bank International and Unicredit to bolster their capital buffers due to risks associated with their operations in Russia. This move aims to prepare the banks for potential write-offs of their Russian activities, as they face challenges in maintaining effective control. Both banks are expected to see increased capital requirements starting next year.
Raiffeisen Bank International AG
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