IBEC’s Council Approves Exchange-Traded Bond Program at 130th Meeting in Moscow
On 13-14 December 2017, the 130th meeting of the IBEC’s Council – a meeting of the delegations of the member countries, which is devoted to ongoing and strategic issues of the Bank’s business, was held in Moscow.
For the first time in the IBEC’s history, the exchange-traded bond program with total value up to RUB 70 bn was approved and the bond issue limit of up to RUB 3 bn or EUR 45 mln in 2018 was established.
“We are immensely pleased that the IBEC’s Council approved the securities issue for the first time in the entire history of the Bank. Over the long run, raised funds will enable us to resolve strategic tasks even more effectively, and the approved amount of 2018 bonded loan will be allocated to the priority projects pursuant to the adopted Bank’s Development Strategy. First and foremost, to financing of significant infrastructure projects in the IBEC’s member countries”, Ms. Irina Golovchenko, IBEC’s Board Chairman, has noted.
The delegations of the countries commended the steps which the Board takes to perform the Strategy that was previously approved by the Council. In particular, obtaining of an investment rating from Fitch, an international credit rating agency, in March 2017 became a key milestone of the Bank’s business resumption.
The Council meeting considered other ongoing issues of the Bank’s business, adopted a Semiannual Report of the Board and approved 2018 Income and Expense Budget.
15 December, Moscow, Russian Federation.