10 th CEI SUMMIT ECONOMIC FORUM

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10 th CEI SUMMIT ECONOMIC FORUM 20-21 November
2007 Sofia/Bulgaria
FINANCING INFRASTRUCTURE PROJECTS WITH BSTDB
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BSEC Members - Shareholders of BSTDB
Ukraine 13.5
Russia 16.5
Moldova 2
Georgia 2
Azerbaijan 2
Romania 13.5
Bulgaria 13.5
Armenia 2
Albania 2
Turkey 16.5
Greece 16.5
This map is for illustrative purposes only.
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BSTDB Today

• Well-established regional IFI
• Authorized Capital of SDR 1 billion (approx.
  1,325 billion US dollars)
• Baa 2 long-term investment rating from Moodys

This map is for illustrative purposes only.
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BSTDB Products

• Project and Corporate finance
• Medium-to-long term lending
• Equity and quasi-equity
• Guarantees

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Medium-to-long Term Lending

• Up to USD 36 million BSTDB participation
• Up to 35 of the total project costs
• Medium to long term maturity depending on type
  and structure of project
• Pricing and grace period subject to appraisal and
  valuation

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Equity Investment

• Minority stake (generally less than 25 and not
  more than 33 of total equity).
• No direct participation in company management
• Probable seat on the Board of Directors
• Possible Put/Call option arrangement for BSTDB
  exit

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FAQs Why BSTDB?

• Stringent but quick approval process
• Ability to process small projects
• Team blending international and local expertise
• No political or macroeconomic conditionality
  attached to the financing

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What is BSTDBs Project Cycle?
Disbursement
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BSTDBs Energy Sector Operational Strategy

• Niche energy production opportunities both in oil
  and gas production and electricity generation
• Energy transportation infrastructure projects
  (oil and gas pipelines, associated equipment,
  high voltage electricity transmission lines,
  etc.)
• The Bank intends to give priority within the
  energy sector to projects that will attract
  commercial co-finance

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Sample Of BSTDB Energy Projects
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Sample Of BSTDB Energy Projects
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The Rompetrol Group B.V. Financing
BSTDB

• Guarantees
• Mortgage (Vega Refinery Assets)
• Pledge (Vega Refinery Assets)
• Accounts Receivables Pledge
• Floating charges

• Assignment of Insurances
• Additional Insurances
• Loss payee

Corporate Loan
Repayment
The Rompetrol Group NV
OMV 25,16
Use of proceeds
Rompetrol Malta Ltd (Malta)
Rompetrol Holding S.A (Switzerland)
Lumbaquil Oil Ltd (Bahamas)
Petros S.A (Romania)
Rompetrol Oilfield Services BV (The Netherlands)
Rompetrol Azerbaijan Ltd (UK)
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Principal Terms and Conditions of the Project
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Financing Energy Projects Challenges?!

• Global Energy Trends
• Global Energy Demand will Continue to Grow
  Inexorably
• Resource are Ample, but Technologies and Supply
  Patterns will Change
• Rising Demand will Drive up Carbon Dioxide
  Emissions
• Providing Cost-Effective Energy to the Final
  Consumer will be Unfinished Task
• The Investment Challenge
• Massive Investment in Expanding Energy Supply
  Capacity will be Required
• Mobilising Investment will be Challenging
• Government Policies will be Critical

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Financing Energy Projects - Opportunities ?!

• Financing of Oil and Gas Exploration and
  Independent Producers
• Privatization and subsequent financing of power
  and gas retailers in various states
• Financing of pipe producers and tanker fleet
  owners via trade-finance instruments and/or
  direct investments

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Whom to contact?
Gueorgui Horozov Director Energy and
Infrastructure Tel [phone] Fax 30
2310 290 432 e-mail ghorozov_at_bstdb.org Web
site www.bstdb.org