EDB to start $125 m. credit syndication by LIBOR+1%

/INTERFAX-AFI, Moscow, June 16, 08/ - Eurasian Development Bank (EDB) started the two year credit syndication on $125 m. by LIBOR+1% APR, a bank circles` source informed Interfax-AFI. ING, SMBC, WestLB and RZB will perform as credit organizers. Earlier in June, Igor Phinogenov, the head of the bank said that EDB plans to borrow till $450 m. syndicated loans this year. Besides, I. Phinogenov didn't exclude that during the second half of the year the bank may examine the opportunity to offer Eurobonds. "We will examine this question till the end of summer" - he explained. EDB is international financial organization, established by Russia and Kazakhstan in January 2006. The bank was established with the aim to support stable development of states parties` economic, high rates of economic growth, developing of mutual trade and other forms of economic relations, stimulation of direct investments, including private and state partnership. The bank's main direction is financing of investments projects on the territory of states parties. EDB`s authorized capital is $1.5 bn. [2008-06-17]