Information Letter of New Revision of Uniform Customs and Practices for Documentary Credits (UCP 600)

27 june 2007 года
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To Vnesheconombank’s customers

 

Dear Sirs!

 

 

This is to inform you that a new revision of Uniform Customs and Practices for Documentary Credits (UCP 600) is to enter into force from 01.07.2007.

The fact that UCP-600 is to come into force does not annul the previous revision of Uniform Customs and Practices for Documentary Credits UCP 500. Letters of credit opened prior to 01.07.2007 will be governed by UCP 500.

We recommend that upon filling in an application for opening a letter of credit you should follow an application form for opening a letter of credit and recommendations with respect to filling it in posted on Vnesheconombank’s official site – www.veb.ru/.

 

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Payments on 1997 and 1998 Eurobonds

26 june 2007 года
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Vnesheconombank in accordance with the terms of issuing eurobonds, on the RF Finance Ministry’s instructions made a final payment totaling 2 billion 520 million US dollars to repay 1997 eurobonds.

2 billion and 400 million US dollars were transferred to repay the principal debt; 120 million US dollars were transferred to pay interest. The payment was made in a single currency. The funds were transferred to Citibank N.A., London Office.

1997 eurobonds were issued for the amount of 2.4 billion US dollars for a period of 10 years, with coupon payments to be made twice a year.

Vnesheconombank also made payment in the amount of 159 million 375 thousand US dollars to pay interest on 1998 eurobonds. The payment was made in a single currency. The funds were transferred to Citibank N.A., London Office.

1998 eurobonds were issued for the amount of 2.5 billion US dollars for a period of 30 years, with coupon payments to be made twice a year.

 

Origin: Press Office of Vnesheconombank
Contact person: Svetlana Nikitina
Phone: +7 (495) 208-46-93, Fax: +7 (495) 975-21-34
E-mail: press@veb.ru

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