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Eurasian Development Bank may float ruble-denominated bonds this fall — CEO - TASS

March 06, 2017 | Cbonds

The Eurasian Development Bank (EDB) is viewing an option of floating ruble-denominated bonds this fall, Chief Executive Officer of the EDB Dmitry Pankin told TASS on Friday.

"The nearest plans are nevertheless to enter tenge bond market. We plan to make an offer in tenge and are in talks with the National Bank of Kazakhstan. The second issue to be considered in fall is to enter ruble bond market," Pankin said.

The EDB mulls a range of large-scale ruble projects now, the banker said.
"These are the water service [upgrade in St. Petersburg - TASS], the central ring road and expressways. We may probable have to enter the ruble market in fall," Pankin added.

The bank intends to decide on countries that may become members of this financial institution by 2018 year-end, he went on.

"It will be possible to determine whether prospects are present or not approximately by the end of the next year. Then we will close negotiations with certain countries," the banker said.

It was reported earlier the EDB views 12 candidate nations that may become members of the bank. Among them are Azerbaijan, Vietnam, Egypt, Israel, India, Indonesia, Iran, Mongolia, Singapore, Thailand, Republic of Korea and Japan.

The expansion process cannot be quick, Pankin said. "We say there is a potential interest, a subject matter for talks, and contacts with other countries are in place. However, developments are gradual and not quick. Nevertheless, talks are underway," he added.

The Eurasian Development Bank is an international financial organization established by Russia and Kazakhstan in 2006. The Bank’s charter capital totals $7 billion. EDB members are Armenia, Belarus, Kazakhstan, Kirgizia, Russia and Tajikistan.

Company: Eurasian Development Bank

Full company nameEurasian Development Bank
Country of riskKazakhstan
Country of registrationKazakhstan
IndustryBanks

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