Banking
Posted:
5 years ago
BSTDB Issues a New Bond To Support Portfolio Growth
The Black Sea Trade & Development Bank (BSTDB) has raised USD 400 million with a new bond issued under its EUR 1 billion Medium-Term Note Programme. The bond has a five year maturity and a fixed coupon of 3.5% payable semi-annually.
Strong investor interest, in the BSTDB name and business profile, from Asia, Europe and the USA, saw the issue strongly oversubscribed, with a book size in excess of USD 1.7 billion. The resulting funding cost for the BSTDB was lower by more than 150bps from the Bank’s last USD 500 million five-year issuance in May 2016.