OREANDA-NEWS.  March 17, 2014. B&N Bank has placed 6-month 07 Series of Euro-Commercial Paper (ECP) amounting to USD25mln at 6.25% p.a. under its USD 300mln ECP Programme. BCP Securities acted as the arranger of the issue.

The funds raised will be used for financing of SME projects.
 
Series 07 is the second issue under B&N Bank’s ECP Programme since the beginning of 2014.  It was triggered by keen interest of Russian and foreign investors in B&N Bank’s 12-month debt securities and firm intention of a certain group of investors to participate in a 6-month issue as a result of the roadshow session held by the Bank’s management in February 2014. The total amount of the funds raised in 1Q2014 under the ECP Programme is USD 72mln. 

Currently there are three outstanding ECP issues (04, 05, 06) for the total amount of USD 80.8mln with a maturity of 12 months each.