OREANDA-NEWS. February 11, 2013. B&N Bank repaid the first ECP tranche of USD 40 million (6-month tenor) to its investors represented by banks and investment funds of Russia, European countries, Asia and Australia, reported the press-centre of B&N Bank.

Total amount of the Bank’s Euro-Commercial Paper Programme is USD 300 million.  Arrangers for the first issue were BCP Securities, The Royal Bank of Scotland and VTB Capital. Funds from the issue were used for the Bank’s general corporate purposes, including the financing of foreign economic activities of the B&N Bank’s corporate customers.

“We take advantage of the opportunities the capital market gives us to diversify our funding base,” stated Irina Komarova, Senior Vice President of B&N Bank.

In October 2012 B&N Bank placed the second tranche of USD 17 million maturing in April 2013.
In the near future B&N Bank expects to place the third tranche under its ECP Programme. Terms and conditions of the issue will be determined by market environment.