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B&N bank successfully placed US$37 Series 10 under its US$300 Euro-Commercial Рaper Programme

Понедельник, 19 октября 2015

The issuer, B&N FINANCE LIMITED, is registered in Cyprus and is a fully-owned subsidiary of the Bank. BCP Securities (USA) and B&N Bank acted as arrangers of the issue.

“The interest from Latin American investors was limited due to alternative instruments in the region with a high credit rating and yield – as an example, benchmark issues of investment grade companies in Brazil, including Petrobras, are yielding 7.0% with a similar maturity, which is beyond the pricing B&N Bank achieved in this ECP drawdown. We still have been generating strong interest from Latin American accounts and believe in future issues that Latin American investors will increase the size of orders coming from the region” – commented Irina Komarova, the Senior Vice-President. Participants in the Series 10 issue also included banks, asset managers and investment companies of Europe and America.

In August 2015, B&N Bank?s team held meetings with asset management companies, funds and banks in Latin America within the framework of a non-deal road show. The US$300mln ECP Programme was registered in summer of 2012 and is considered a short-term financing instrument for diversification and liquidity purposes. In addition to the Series 10 tranche, there are two outstanding ECP issues, Series 08 and Series 09, for the total amount of US$50 mln with a maturity of 6 and 12 months each.

Источник: “Ореанда-Новости”