Saturday, August 19, 2017

Nomos Bank introduces euro commercial papers

Nomos Bank will be producing euro commercial paper through its new Euro-Commercial Papers, ECP program.

The bank will produce up to $2 billion or its equivalent in other currencies.

Euro commercial paper offers participants short-term financing on the international money market.

The income will be installed as a discount or percentage oft eh nominal value of the securities. The limited-time program will have a circulation period of no more than 363 days.

Citibank International Plc. is the organizer of the program and will also act as regular dealers, along with Otkritie Securities Limited.

The development will help the bank diversify its funding base, giving them access to liquidity from international sources. The new venture will work alongside Eurobonds and syndicated longs.

Nomos Bank is one of the largest private listed banks in Russia. It has 21 branches and 31 representative offices around the country. The bank was admitted to trading on the Moscow Interbank Currency Exchange in 2013.