Investment Manager for International Fund for Russian SMEs
Deadline: 5 August 2013 at 12:00 pm CET.
The International Fund for Russian SMEs (IFORS) was created based on a Memorandum of Understanding, signed on 16th November 2012 by Vnesheconombank and KfW, in the presence of Vladimir Putin, President of Russian Federation and Angela Merkel, the Federal Chancellor of Germnay. The purpose of the Fund is to attract capital to sustainably foster and develop SME business in Russia. The Fund is designed to facilitate the Russian non-trading SMEs’ access to financial resources, in particular, through attracting long-term foreign investments. IFORS plans to accomplish this mission predominantly through senior lending to financial institutions, who will subsequently lend to non-trading SME clients. To diversify and complete its portfolio, at a later stage the Fund could also invest in direct long-term loans to medium-sized manufacturing and subordinated loans and equity of Russian banks and SMEs.
The purpose of this call for expressions of interest is to develop a list of eligible candidate companies that will be invited to tender a proposal for investment management services for IFORS.
Investment management companies, at their own discretion, may choose to appoint a junior partner, such as an investment advisor or another partner, to assist in such tasks as the management of the IFORS or the technical assistance facility.
Interested companies are invited to submit an expression of interest before the above-mentioned deadline.
Call for expressions of interest
Adobe PDF
A synopsis of the Fund, details on the method of application, and the evaluation of applications are available by sending an inquiry to ifors@innpact.com.
On 17 July the Bank for Development and Foreign Economic Affairs State Corporation (Vnesheconombank) (“VEB”) closed the book for its BO-01 series exchange bonds in a total principal amount of RUR20bn puttable after 2 years.
115 investors participated in the transaction with orders totalling RUR52.4bn.
Banks accounted for c.60.4% of demand while investment companies submitted orders for 18.1% and asset managers for 8.1%. International investors contributed 13.4% of the total subscription volume. The final coupon was set at 7.65% p.a.
The bonds will start trading on MICEX on 19 July 2013. The proceeds will be used for general corporate purposes, including financing of the Bank’s lending and investment activity.
Alexander Ivanov, Deputy Chairman – Member of VEB’s Management Board, said, “VEB has taken advantage of improved market conditions to price a successful offering. The deal was significantly oversubscribed. This was preceded by an extensive effort to align bond issuance under Russian regulations with international capital market standards”. “We are particularly pleased to see that as a result of this work, orders have been submitted by many foreign investors who did not participate in local issues in the past. Their demand was around RUR7bn.” – he also emphasizes.
Arrangers: VTB Capital, Raiffeisenbank, Citi.
Co-arrangers: Globexbank, Promsvyazbank, Ronin, Sberbank.
Underwriters: Bank Saint Petersburg, MTS Bank, Nomos Bank, Rosevrobank, Russian Agricultural Bank.
Co-underwriters: Aversbank, Asia-Pacific Bank, Project Finance Bank, Evrofinance Bank, Kapital AM, KIT Finance, Megatrustoil, Metcombank (Kamensk-Uralsky), Nordea Bank, Partner AM, Petrocommerce, Region, Rosbank, Rosenergobank, Sberbank CIB, Finprombank.
Press Office of Vnesheconombank
Phone: +7 (499) 608-46-93, Fax: +7 (499) 975-21-34
E-mail: press@veb.ru
Vnesheconombank and KfW agree to develop ecologically safe infrastructure in Russia
In the course of the International Conference “Sustainable Growth through Long-Term Investments” State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and KfW Banking Group signed a Memorandum of Understanding.
The Memorandum is designed to promote the development of the solid waste utilization sector in the Russian Federation based on the principles of environmental protection and increased ecology levels.
On behalf of Vnesheconombank the Memorandum was signed by Chairman Vladimir Dmitriev and on behalf of KfW Banking Group – by Chief Executive Director Ulrich Shröder.
The parties agreed to launch an Initiative on Modernizing Social Infrastructure. The Initiative will focus on investing funds in upgrading existing and/or building new urban and regional waste treatment systems.
Public companies and companies established on the principles of public private partnership (PPP) at municipal and regional levels are to become final beneficiaries. A mechanism for selecting projects as part of the Initiative is to be additionally agreed upon by the parties.
Under the Memorandum the parties agreed to share information of mutual interest as well as participate in selection and preparation of projects.
Press Office of Vnesheconombank
Phone: +7 (499) 608-46-93, Fax: +7 (499) 975-21-34
E-mail: press@veb.ru
Vnesheconombank and the Central American bank for economic integration (CABEI) agree to cooperate in project activity
In the course of the International Conference “Sustainable Growth through Long-Term Investments” State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’and the Central American Bank for Economic Integration signed a Memorandum of Understanding.
On behalf of Vnesheconombank the Memorandum was signed by Chairman Vladimir Dmitriev and on behalf of CABEI – by Executive President Dr. Nick Rischbieth.
Under the Memorandum the parties agreed to explore the possibility of cooperation in implementing investment projects. They will give top priority to projects aimed at developing social economic infrastructure including transport and power engineering, projects in environmental protection (including mitigating climate change consequences). The parties also agreed to consider the possibility of their participation in funding programs aimed at supporting small and medium-sized enterprises in Russia and founder countries of the Central American Bank for Economic Integration as well as to share experience and information on the financial institutions’ activities.
The Memorandum aims to establish long-term partnership in project and trade financing. The parties intend to focus on their joint participation in implementing foreign economic projects aimed at providing the state’s support for industrial exports.
The Central American Bank for Economic Integration (CABEI) was founded in 1960 as an international legal entity to promote the integration and development of its founder countries: Guatemala, Honduras, Salvador, Nicaragua, and Costa-Rica. Later on, other countries joined them and not only the countries of this region but also those that were interested in their constant presence in the region. The Bank is headquartered in the city of Tegucigalpa, Honduras.
The Bank promotes economic integration, economic and social development of Central American countries.
Press Office of Vnesheconombank
Phone: +7 (499) 608-46-93, Fax: +7 (499) 975-21-34
E-mail: press@veb.ru
Vnesheconombank and Argentinean Banco de Inversion y Comercio Exterior S.A. (BICE) agree on cooperation
In the course of the International Conference “Sustainable Growth through Long-Term Investments” State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and Banco de Inversion y Comercio Exterior S.A. (BICE) signed a Memorandum of Understanding.
On behalf of Vnesheconombank the Memorandum was signed by Chairman Vladimir Dmitriev and on behalf of BICE – by President Mr. Mauro Alem.
The Memorandum is aimed at establishing a long-term partnership in trade and project finance.
In accordance with the provisions of the document parties have agreed on cooperation related to investment project implementation. Projects aimed at development of social economic infrastructure, including transport and energy, at ecological effect and sustainability, development of small and medium size enterprises as well as export financing are given top priority.
Moreover, parties have agreed upon hosting a number of events aimed at exchange of experience and information related to banks’ main activities.
Banco de Inversion y Comercio Exterior S.A. (BICE)) is a state owned banking institution established in 1992 and specializing in medium and long term production investment and foreign trade loans. Main focus of BICE is fostering of production investment and development of foreign trade activities.
Press Office of Vnesheconombank
Phone: +7 (499) 608-46-93, Fax: +7 (499) 975-21-34
E-mail: press@veb.ru