VEB.RF issued short-term bonds in additional placements to companies and corporations on 10, 11 and 12 July 2019.
The Bank raised 12 billion roubles, including 10 billion roubles from bonds with a maturity of 14 days and a coupon of 7.28% p.a., 1 billion roubles from bonds with a maturity of 21 days and a coupon of 7.27% p.a., and 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 arranger of the bond issue is Gazprombank.
The bonds are on the Moscow Exchange’s Quotation List Level 1. The depository is National Settlement Depository.
State Development Corporation “VEB.RF” and its subsidiary, Russian Export Centre, provided backing for exports to Uzbekistan in the amount of more than 1 billion euros. VEB.RF’s new loan agreements provide for 174 million euros worth of financing to be extended in the next three years to promote Russian high-technology exports to Uzbekistan. Delivery of trains for the Tashkent Metro and electric power equipment is one of the projects.
“Uzbekistan has become for us an important business destination. VEB.RF is committed to encouraging bilateral trade and economic cooperation. Primarily, we are talking about carrying out electric power and urban infrastructure projects in Uzbekistan. We have been promoting multifaceted cooperation with our financial partner in Uzbekistan, the National Bank of Uzbekistan, in particular via the Shanghai Cooperation Organisation Interbank Consortium. Notably, funds are being successfully drawn down under two electrical power projects. Several projects are currently being scrutinised,” VEB.RF’s Chairman Igor Shuvalov said.
At the end of May this year, during the visit of Dmitry Medvedev to Uzbekistan, VEB.RF and NBU signed a new 10-year loan agreement to finance a project on the delivery of five trains for the Tashkent metro for a total of 22.14 million euros.
VEB.Rf is currently considering cooperation on potentially worthwhile hydropower projects in Uzbekistan. The corporation intends to commit up to 280 million euros for the projects.
“Uzbekistan’s economy is rapidly developing, with a special focus placed on the public transport upgrade. We hope that our pilot project on the delivery of metro trains will be followed by other interesting projects relating to the exports of Russian technologies to Tashkent,” Igor Shuvalov emphasised.