News

The International Bank for Economic Co-operation opened its credit history on the European market. IBEC has successfully completed its debut BGN-denominated bond issuance on the Bulgarian capital market, raising a 3-year unsecured funding for BGN 68 million (approx. EUR 35 million). The issue has a coupon of 1.15% per annum and is due 2024; it is rated BBB by Fitch. The transaction, facilitated by the Joint Lead Managers and Bookrunners Raiffeisenbank (Bulgaria) EAD and UniCredit Bulbank AD, attracted interest from diverse institutional investors in Bulgaria - credit institutions, pension funds, and asset managers.

The International Bank for Economic Co-operation has supported the Green Loan Program of the Trade and Development Bank of Mongolia (TDBM) for small and medium-sized enterprises in Mongolia. IBEC has provided loan in the amount of USD 10 million for a period of up to 3 years. The total green financing volume under the GLP program is USD 50 million and is formed both from TDBM funds and with the support of a number of other banks, including international development institutions. The full implementation period of the Program is 5 years.

The Analytical Credit Rating Agency (ACRA) has affirmed the credit rating of the International Bank for Economic Co-operation on the international scale – A- and on the national scale for the Russian Federation – AAA (RU). The outlook on the affirmed ratings is Stable.

A delegation of the International Bank for Economic Co-operation headed by the Chairman of the Board Denis Ivanov visited the Joint Institute for Nuclear Research (JINR) in the city of Dubna. During the visit, a meeting with JINR Director Grigory Trubnikov and leading employees of the Institute took place, after which the Bank's representatives were shown the progress of work on the implementation of the flagship project – the NICA complex.