Funding profile

The Treasury Department operates under guidelines established by the Bank’s Asset & Liability Committee. The Treasury identifies, measures and manages the risks inherent in the Bank’s balance sheet, ensures that timely funding is available for lending operations and invests funds that are surplus to lending requirements. The Bank takes a conservative approach to Treasury Management and regards preservation of its capital as the primary objective.

The Black Sea Trade & Development Bank (BSTDB) has to date funded itself from a combination of bilateral and syndicated loans, bond issuance and a EUR Commercial Paper program.

BSTDB benefits from funding facilities provided by other development institutions, including: KfW (Germany), the Nordic Investment Bank, Proparco (France) and the Development Bank of Austria.

Issuance programmes

May 2025 - BSTDB signed a EUR 200 million Global Syndicated Loan with 3 Year Maturity
Sep 2024 – BSTDB signed USD150 million facility with Japan Bank for International Cooperation to support Ukraine and Green Projects
Apr 2021 - BSTDB increased to EUR 2.5 billion EUR MTN programme
Jun 2020 - BSTDB increased to EUR 2 billion EUR MTN programme
May 2015 - BSTDB established a EUR 1 billion EUR MTN programme
Apr 2012 - BSTDB established a EUR 1 billion EUR Commercial Paper programme

Current outstanding bond issues and private placements

EUR 35 million private placement – Mar 2021-Mar 2036. Coupon 1.5%.
EUR 86.5 million private placement – Oct 2020-Oct 2035. Coupon 1.5%.
EUR 20 million private placement – May 2021-May 2033. Coupon 1.435%.
AUD 20 million private placement – Mar 2021-Mar 2031. Coupon 3.265%.
GBP 20 million private placement – May 2021-May 2031. Coupon 2.244%.
USD 85 million private placement – Feb 2021-Feb 2031. Coupon 2.615%.
EUR 100 million private placement – Oct 2020-Oct 2030. Coupon 1.25%. MTN Programme.
PHP 650 million private placement - Sep 2025-Sep 2030. Coupon 6.6%.
TRY 360 million private placement - Dec 2024-Dec 2029. Coupon 36.76%.
NZD 10 million private placement – Sep 2024-Sep 2029. Coupon 6.1%.
USD 10.5 million private placement – Jul 2024-Jul 2029. Coupon 6.25%.
GBP 30 million private placement – May 2021-May 2028. Coupon 1.894%.
AUD 10 million private placement – Mar 2021-Mar 2028. Coupon 2.55%.
CHF 150 million bond – Dec 2021-Mar 2027 – Coupon 0.35%.
CZK 1.2 billion private placement – Mar 2021-Mar 2026. Floating rate.
JPY 5 billion private placement – May 2021-May 2026. Coupon 0.65%.
PLN 70 million private placement – Sep 2021-Sep 2026. Coupon 2.12%.
RON 185 million private placement – May 2021-May 2026. Floating rate.
RON 150 million private placement – May 2021-May 2026. Coupon 3.13%.