Vnesheconombank issued short-term bonds in an additional placement to companies and corporations on 14, 15 and 16 November 2018.
The Bank raised 20.2 billion roubles, including 0.1 billion roubles from bonds with a maturity of 14 days and a coupon of 7.27% p.a., 20 billion roubles from bonds with a maturity of 15 days and a coupon of 7.27% p.a., and 0.1 billion roubles from bonds with a maturity of 28 days and a coupon of 7.27% p.a.
The par value of one bond is 1,000 roubles. The bonds were sold at 100% of their par value. The coupon is payable at maturity.
The arrangers of the bond issue are Gazprombank and Svyaz-Bank.
The bonds are on the Moscow Exchange’s Quotation List Level 1. The depository is National Settlement Depository.
State Duma Gives First Reading Approval to New Legislation on Subscribed Capital for VEB.RF and Other Development Institutions
A plenary session of the State Duma passed new legislation to allocate public budget funds to VEB.RF, Russian Small and Medium Business Corporation and Russian Export Center for their subscribed capital.
The relevant amendments to the federal law on the development bank and to the Budget Code had previously been approved by the specialist committees of the lower house of the Russian parliament on 8 November 2018. In addition, the changes to legislation introduce the role of VEB.RF as a coordinator of development institutions. For this purpose, VEB will participate in managing development institutions and formulate procedures for joint work on projects in order to ensure that instruments of support will be used in an integrated manner.
The draft legislation also concerns the name of Vnesheconombank; the renamed institution will become State Development Corporation VEB.RF. The new name reflects the role of VEB in carrying out the tasks assigned by the Russian President and the Russian Government.
Earlier today, the State Duma gave first reading approval to amendments to the 2018 federal budget, allocating an additional 20.45 billion roubles to VEB.RF for the settlement of its external debt.