EDB Launched Euro-Commercial Paper Programme for US$3.5 billion

Almaty, 21 July 2010. On 16 July, the EDB had its Euro-Commercial Paper Programme for a total of US$3.5 billion registered.

The arrangers and dealers of this Programme are UBS Limited and VTB Capital plc. The purpose of the Programme is to raise financial market resources for a term of up to one year.

“This programme is one of the sources of short-term liquidity for the EDB,” commented Dmitry Krasilnikov, member of the EDB Executive Board / Head of Corporate Finance & Financial Institutions. “By issuing commercial papers with different parameters we hope to expand the investors’ geography and enhance our ability to efficiently manage our balance. The simplified procedure of issuing commercial papers will enable us to promptly address the Bank’s needs for short-term financing. In addition, this programme will add to the Bank’s public credit history”.

Apart from financing on commercial paper markets, the EDB (whose credit ratings assigned by Fitch, S&P and Moody’s are BBB/ВВВ/А3) intends to go on with syndicated bank loans and maintain its presence on international and regional bonds markets in its member countries and elsewhere.