Syndicated Loans

The Bank secured its inaugural syndicated loan in December 2006.  The loan amount was US$150 million, with a term of one year. The interest rate was LIBOR + 50 basis points. Citigroup, ING and Standard Bank were lead managers. Thirty-three banks participated in the loan agreement, including banks from Europe (60%), Asia, the Near East and the US.  Demand exceeded supply by more than two times, which demonstrated investor interest and confidence in the deal.

In December 2007, the EDB secured a second syndicated credit in the amount of US$400 million, also with a term of one year.  The interest rate was LIBOR + 60 basis points. Lead managers were ABN Amro, HSBC, ING and Sumitomo Banking Corporation Europe Ltd.  The syndicated credit deal closed with the participation of 34 international banks.  Funds will be used by the EDB for corporate objectives, including financing of its investment portfolio.  The deal was signed in such a way that allowed its value to increase 2.5 times.

EMTN Program

In December 2007, the Bank finalized the registration of its US$ 3.5 billion EMTN program.  Lead managers were Goldman Sachs International and Citigroup Global Markets Ltd.  Listing took place on the LSE.  The first drawdown, which will serve as a reference point for subsequent loans, is planned under favorable market conditions.

Signing the deal for the Bank's first syndicated loan.