The State Development Corporation “VEB.RF” closed the order book for VEB.RF’s PBO-001R-17 exchange-traded bonds on 20 June 2019. Under the programme of exchange-traded bonds, investors were offered bonds with a total par value of at least 20 billion roubles and with a term to maturity of four years.
The order book was opened on 20 June 2019 with an initial coupon rate from 8.15 to 8.25% p.a. When the order book was closed, the coupon rate was at the bottom of the marketed level at 8.15% p.a. whereas the bond issue totalled 20 billion roubles.
The overall demand for the PBO-001R-17 exchange-traded bonds with a coupon rate of up to 8.15% reached around 39 billion roubles.
The PBO-001R-17 bonds will be listed on the Moscow Exchange as from 27 June 2019.
Securities depository: National Settlement Depository.
Bookrunners: BC REGION, ROSSELKHOZBANK, PROMSVYAZBANK, SOVCOMBANK, CREDIT BANK OF MOSCOW
Igor Shuvalov and Vasiliy Matyushevsky Discuss Bank BelVEB’s Development Prospects
On 20 June 2019, Minsk hosted a strategic session of the State Development Corporation “VEB.RF” and Bank BelVEB attended by the heads of both finance institutions, Igor Shuvalov and Vasiliy Matyushevsky.
The parties reviewed Bank BelVEB’s strategic objectives for 2019-2021 which include a deep transformation of the bank. Bank BelVEB’s top managers presented the main strategic focus areas: corporate investment business and integration projects, SMEs and retail, sales channels transformation, re-engineering of the bank. The parties reviewed main challenges for the bank and the ways to tackle them, and other issues. In particular the transformation of Bank BelVEB into an efficient financial technology group to breach the barriers of the banking business model was discussed. The parties discussed the creation of an ecosystem for clients and partners, a new service model.
Integration business development areas include financing of Russian exports to Belarus, financing of Russian and Belarus exports to third countries, financial support to new production projects with integration opportunities.
“We would like to see BelVEB as one of the best banks of the Republic of Belarus. The bank has its achievements and best practices; today the primary objective is to cooperate to support integration projects. We are carrying out a serious effort to develop BelVEB. It is our subsidiary bank and our underpinning partner in the Republic of Belarus in addressing the main challenge: opening up third countries’ markets for high technology products made in Russia and Belarus. The task number two is to make BelVEB standing on its own two feet in the Republic, competing for the leading role. The clients shall see the bank as a trustworthy organization. The bank shall be a partner of the Republic of Belarus’ Government in tackling social and economic tasks. The new strategy will make it possible to meet all these challenges,” VEB.RF’s Chairman Igor Shuvalov said.
Bank BelVEB’s Chairman of the Board Vasiliy Matyushevsky noted that the bank intends to create a comprehensive ecosystem for B2B and B2C customers. The ecosystem will be centred on the needs of customers. “We plan to implement the most cutting edge technology solutions, first of all in on-line and remote banking. I hope that these projects will be implemented,” Vasiliy Matyushevsky emphasised.
The parties also discussed a transformation of the bank’s retail network and points of sale, development of digital and partner sales channels, development of new innovation products. The bank plans to strengthen the implementation of open API technology.
Bank BelVEB will see significant changes it the way it interacts with SMEs: new digital services and products will be created, new projects with partners initiated.
After the meeting, the parties agreed to finalise the strategy in the near future and to adopt a document this autumn.