OREANDA-NEWS. April 25, 2013. B&N Bank fully repaid the USD 17 million 2 Series ECP issue (ISIN XS0844064906) to its Russian and European investment companies. Total amount of the Bank’s Euro-Commercial Paper Programme is USD 300 million.  Arrangers for the second issue were BCP Securities, The Royal Bank of Scotland and VTB Capital. The Bank used the raised funds for financing of clients’ export-import operations.

“ECP is an interim instrument to utilize long-term borrowings in the future, such as Eurobonds. Repayment of the 2 Series ECP maintains a positive credit history allowing the Bank to enter the market in the upcoming years”, stated Irina Komarova, Senior Vice President of B&N Bank.

On the 1st of February, 2013, the USD 40 million of the 1 Series ECP (ISIN XS0811909927) was repaid. At present, there is the 3 Series ECP with an outstanding amount of US\\$60 million and maturity on the 12 th of February, 2014.