The Black Sea Trade and Development Bank issued the following announcement on April 11.
The Black Sea Trade and Development Bank (BSTDB) has become an anchor investor in a bond issued by the Trans-Oil Group, the first corporate bond ever in Moldova. BSTDB provided an amount of USD 22.25 million out of the total USD 300 million offering.
The proceeds of the bond will enable Trans-Oil to diversify its funding base and consolidate its position on the international market. As a result, Trans-Oil will be able to expand its capital investment program in the markets of Moldova and Romania.
“Corporate bonds are important tools for large companies to raise capital for investment projects. We are very pleased with the successful introduction of this market instrument in Moldova and with the BSTDB’s role in this innovative venture of Trans-Oil that will benefit Moldova’s real economy and promote regional cooperation,” said Dmitry Pankin, BSTDB President.
Commenting on the deal, Vaja Jhashi, CEO of Trans-Oil Group said: “Trans-Oil Group is very pleased with the transaction having established its benchmark Eurobond footprint in the Public Debt Capital Markets. The Group has managed to attract significant interest from high quality institutional investors worldwide and opened the path for Moldova to further development of its investment and credit story. The Group is grateful to BSTDB, its long-standing financial partner, for anchoring and supporting this import transaction for the country and the region in general.”
Original source can be found here.