Black Sea Trade and Development Bank (BSTDB), a multilateral development bank, has mandated BayernLB, Natexis Banques Populaires and Sanpaolo IMI Bank Ireland to act as mandated lead arrangers for a three-year US$40mn syndicated term loan facility, representing its second visit to the syndicated loan market.

 

The facility has been launched into syndication. Proceeds are to be used for general funding purposes.

 

BSTDB is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey, and Ukraine. The BSTDB headquarters is in Thessaloniki, Greece.

 

With an authorised capital of SDR1bn (US$1.45bn), the BSTDB supports economic development and regional cooperation by providing financing, guarantees, and equity for operations in the public and private sectors in its member countries. As at end of September 2005, project financing and corporate lending represent over 87% of the bank’s commitments, with short term trade financing accounting for about 11% of the portfolio.

 

BSTDB is rated long-term Baa2 and short term P2 by Moody’s .