OREANDA-NEWS.  February 17, 2014. B&N Bank repaid  1-year 03 ECP Series of USD 60 million (ISIN XS 0890328908)  to its Russian and foreign investors.

Arrangers and dealers for 03 ECP Series issue were BCP Securities and VTB Capital.

The funds were directed to the general corporate purposes, which included financing of the customers’ export-import operations.

US\\$300 million ECP Programme was registered by B&N Bank in summer 2012. Nowadays B&N Bank has two outstanding ECP Series 04 and 05 in the total amount of USD 33.8 million with 1-year maturity each.  Initial yield on these issues was fixed at 6.75 % p.a. and 6.7 % p.a. respectively.