BSTDB Establishes Euro Commercial Paper Programme

News | 26-Apr-2012

The Black Sea Trade & Development Bank (BSTDB) issued US$ 122 million of Euro Commercial Paper (ECP). This issuance was made from BSTDB's ECP programme signed on April 11, 2012. The programme and the issue were arranged by UBS. The transaction followed a successful roadshow, organized by UBS in Switzerland. The issuance achieved an attractive pricing for the 6 months maturity.

The transaction represents a first ECP deal for BSTDB in a strategic move to attract short-term liquidity and to diversify its investor base. By entering the ECP market, BSTDB plans to access new high quality investor types, including money market funds, central banks and in particular private banks.