BSTDB: Energy in Southeast Europe

November 2012

BSTDB At A Glance• Headquarters: Thessaloniki, Greece• First Operation: November 1999• Employees: 100• Shareholders: 11 countries of the Black Sea Region• Authorized Capital: EUR 3.5 billion (doubled in 2008)• Cumulative Portfolio: EUR 2.6 billion (265 projects)• Active Portfolio: EUR 1.4 billion (131 projects)• Credit Ratings: A3 by Moody’s (July 2012) A from S&P

(August 2012).The ratings are 5 notches higher that the average rating of the shareholders. BSTDB is the best rated financial institution in the Black Sea region

• Since 2000, the BSTDB has lent approx. EUR 490m to EUR 5.5b of Energy & Infrastructure projects

Sectoral Distribution of Projects (Outstanding Operations at 30/06/2012)

Outstanding Operations by Country (at 30/06/2012)

Energy & Infrastructure Portfolio (at 30/06/2012)

BSTDB: Energy & Infrastructure

Primary Type of Transactions:• Project Finance

• Up to 35%• Sponsor equity of about 30% and remainder co-financed

• Corporate Finance• Well established Corporates with a strong record of healthy IFRS

audited financials

• All projects must:• Have a solid business plan & IFRS statements• Pass KYC, Corporate Governance, and Creditworthiness checks of

Sponsor / Borrower• Pass due diligence checks (market, financial, technical, EHS, legal,

etc.)

• BSTDB participation is up to EUR 28m

BSTDB Energy Portfolio (1)

• BU: Maritza East I• Construction of 600MW lignite-fired power plant, owned by

AES • Participant in EUR 1.1b debt facility

• BU: Suvorovo Wind Farm• Construction of 60MW wind farm, with Spanish sponsor• Participant in EUR 62m debt facility

• RO: Petrom• Corporate loan to largest Romanian oil & gas group to finance

various components of strategic environmental program• Participant in EUR 275m debt facility

BSTDB Energy Portfolio (2)

• TU: Koprubasi• Construction of 74MW Hydro Power Plant• Participant in USD 28m debt facility

BSTDB Energy Portfolio (3)

• UA: Alfa Nafta• Finance expansion of gas filling station network• USD 36m debt facility

• UA: Chornomornaftogaz• Support development of existing oil & gas reserves on Black Sea• USD 21m debt facility

• UA: Galnaftogaz• Finance expansion of gas filling station network• USD 44m debt facilites

• UA: Gas Transit• Construction of compressor on existing Ananyev-Izmail gas

pipeline.• Participant in EUR 97m debt facility

Thank You!

Roman MatkiwskyDirector, Energy & InfrastructureE: rmatkiwsky@bstdb.org