Press Releases

BSTDB Acts as Anchor Investor in the First Corporate Bond Issue in Moldova


11-Apr-2019

The Black Sea Trade and Development Bank (BSTDB) has become an anchor investor in a bond issued by the Trans-Oil Group, the first corporate bond ever in Moldova. BSTDB provided an amount of USD 22.25 million out of the total USD 300 million offering.

 

The proceeds of the bond will enable Trans-Oil to diversify its funding base and consolidate its position on the international market. As a result, Trans-Oil will be able to expand its capital investment program in the markets of Moldova and Romania.

 

“Corporate bonds are important tools for large companies to raise capital for investment projects. We are very pleased with the successful introduction of this market instrument in Moldova and with the BSTDB’s role in this innovative venture of Trans-Oil that will benefit Moldova’s real economy and promote regional cooperation,” said Dmitry Pankin, BSTDB President.

 

Commenting on the deal, Vaja Jhashi, CEO of Trans-Oil Group said: “Trans-Oil Group is very pleased with the transaction having established its benchmark Eurobond footprint in the Public Debt Capital Markets. The Group has managed to attract significant interest from high quality institutional investors worldwide and opened the path for Moldova to further development of its investment and credit story. The Group is grateful to BSTDB, its long-standing financial partner, for anchoring and supporting this import transaction for the country and the region in general.”

 

* * * * * * * * * * *

 

Trans-Oil Group is the largest producer of vegetable oil and refined bottled vegetable oil, with corresponding market shares of 80% and 90%. It is also the largest exporter of sunflower seeds and wheat from Moldova. The Group owns 75% of all storage facilities for grain in Moldova, a port terminal, a fleet of rail cars and trucks.

The Group has a solid client base comprising both international and regional end-users and trading houses from Europe, Southern Mediterranean, Turkey, and Africa.

 

The Black Sea Trade and Development Bank (BSTDB) is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey, and Ukraine. The BSTDB headquarters are in Thessaloniki, Greece. BSTDB supports economic development and regional cooperation by providing loans, credit lines, equity and guarantees for projects and trade financing in the public and private sectors in its member countries. The authorized capital of the Bank is EUR 3.45 billion. BSTDB is rated long-term “A-” by Standard and Poor’s and “A2” by Moody’s. For information on BSTDB, visit www.bstdb.org.

 

Press contact:

Haroula Christodoulou

Phone: +30 2310 290533

E-mail: cchristodoulou@bstdb.org

Twitter: @BSTDB