VEB.RF issued short-term bonds in additional placements to companies and corporations on 19, 20 and 21 June 2019.
The Bank raised 24.83 billion roubles, including 20 billion roubles from bonds with a maturity of 14 days and a coupon of 7.49% p.a., 0.82 billion roubles from bonds with a maturity of 21 days and a coupon of 7.42% p.a., and 4.01 billion roubles from bonds with a maturity of 28 days and a coupon of 7.36% 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.
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.
VEB.RF to Finance RUB817mn Supply of Medical Equipment to Volgograd Region
The State Development Corporation “VEB.RF” (VEB-Leasing) and the Health Directorate of the Volgograd Region entered into several contracts to finance medical equipment supply. The equipment will be made available to public hospitals in the region by October 1, 2019. The signed contracts’ amount totals RUB817mn.
The contracts will be performed using the Volgograd Region’s budget funds. The lease covers 79 medical equipment items including CT scanners, X-ray, ultrasound and endoscopic equipment.
“The state of medicine development has a direct impact not only on the quality of life, but on the life itself. It is impossible to upgrade a health centre without installing the state-of-the-art equipment. Leasing instruments make it possible to ensure a speedy supply of equipment, and the speed is critical when we are talking about medicine,” VEB-Leasing’s CEO Artyom Dovlatov said.
“Acquiring equipment is one of the first steps to create an integrated health care system in the region. The roll-out of CT and MRI scanners, X-ray, expert ultrasound and endoscopic equipment will help to diagnose patients faster, including suspected cancer cases, and to accelerate initiation of treatment. This equipment will make it possible to offer periodical health check-ups to a larger population. I would like to highlight that when we create outpatient cancer care centres we follow a comprehensive approach. It provides not only the state-of-the-art equipment but also creates comfortable health centre experience for patients,” Deputy Governor of the Volgograd Region, Vladimir Shkarin, commented.
According to the Department of Health of the Volgograd Region, the equipment will be made available to hospitals, including outpatient cancer care centres. The instruction to the regional health care authorities to carry out the upgrade of equipment to turn basic hospitals into outpatient cancer care centres was issued by the Governor of the Volgograd Region, Andrey Bocharov. In the next three years, 14 centres of this kind will be created. The new centres will increase the level of their services (to tier 2), their equipment will be upgraded to tier 3. First equipment will be supplied to Fisher Hospital in Volzhsky, Central Clinic Emergency Hospital No. 15, and Uryupinsk Central District Hospital.
On June 10-13, the SCO Interbank Association Council meeting took place in Bishkek. The meeting was chaired by Kyrgyzstan. The meeting approved the presidency of the Russian Federation in 2020 and elected the State Development Corporation VEB.RF’s Chairman Igor Shuvalov as the Chairman of the SCO Interbank Association in 2020.
The SCO Interbank Association was established by the resolution of the SCO Heads of Government Council in 2005. Today the members of the SCO Interbank Association are the State Development Corporation “VEB.RF”, the China Development Bank, the Development Bank of Kazakhstan, the RSK Bank of Kyrgyzstan, the Amonatbonk State Savings Bank of Tajikistan, the National Bank for Foreign Economic Activity of the Republic of Uzbekistan, Habib Bank Limited (Pakistan). The SCO IBA partner banks include: the Savings Bank Belarusbank, the Development Bank of Mongolia, the Eurasian Development Bank.
In 2020 the SCO Interbank Association marks its fifteenth anniversary.
The SCO member states’ national economies account for 22.5% of the gross world product (GWP), the IMF’s expert forecast envisages that their contribution will increase up to 38-40% by 2025. The SCO member states’ foreign trade turnover exceeded USD6.3tn. The SCO Interbank Association has become an efficient banking, financial and investment cooperation instrument. Today the Shanghai Cooperation Organisation brings together emerging economies with significant territories, a large market, abundant natural resources and powerful production capacity.