On Signing Agreements on Financing the Construction of a Propylene Complex in Tobolsk

14 july 2010 года
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Tobolsk. State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’and subsidiary company OJSC SIBUR Holding – LLC Tobolsk –Polymer entered into Agreements on Extending Long-Term Credits for a Total amount of 1 441 Million US Dollars to the Company.

On behalf of Vnesheconombank the Agreements were signed by Vnesheconombank Chairman Vladimir Dmitriev, on behalf of LLC Tobolsk – Polymer – by SIBUR President Dmitry Konov.

Under the Agreements signed credit resources in the amount of 1 220 million US dollars are to be made available for a period of 13.5 years against guarantees of export insurance agencies in European countries where SIBUR purchases equipment for a new polypropylene complex. The remaining funds in the amount of 221million US dollars are to be provided by opening a credit line for a period of 9 years.

The Agreements on credit financing are aimed at implementing the Memorandum of Understanding concluded by the parties in 2009 in the course of Russian President Dmitry Medvedev’s visit to Italy.

At present, construction work is under way at all main LLC Tobolsk – Polymer’s facilities. Large-scale equipment is to be delivered to the construction site from the 3d quarter of 2010 to the 4th quarter of 2011. The Complex is expected to be commissioned in the 4th quarter of 2012.

The construction of the Complex is provided for by the Government Strategy for the Development of Chemical and Petrochemical Industry of Russia for a Period of up to 2015.

The Project corresponds to Vnesheconombank’s main lines of investment activity and aims to enhance hydrocarbons utilization efficiency and exports of high-value added products. The project’s implementation would significantly increase associated petroleum gas processing volumes thus improving the ecological situation in the region.

 

Press Office of Vnesheconombank
Contact person: Ekaterina Karasina
Phone: +7 (495) 608-46-93, Fax: +7 (499) 975-21-34
E-mail: press@veb.ru

 

Press Office of LLC SIBUR- Managing Company OJSC SIBUR Holding

Phone/Fax: (495) 937-17-26

E-mail: press@sibur.ru

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On Confirming the Possibility of Vnesheconombank’s Purchase of Mortgage-Backed Bonds Issued under the Program of Vnesheconombank’s Investments in Affordable Housing Construction and Mortgage Lending Projects

9 july 2010 года
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Hereby we inform you that as of 01.07.2010, the possibility was confirmed that during the Program’s effective period Vnesheconombank would purchase bonds originated by the Housing Mortgage Lending Agency and banks that submitted applications at par value provided that the bonds at the date of their issue comply with “Requirements for Bonds Including Mortgage-Backed Bonds and Mortgage Coverage of Bonds Purchased under the Program of Vnesheconombank’s Investments in Affordable Housing Construction and Mortgage Lending in 2010-2012” (hereinafter referred to as Requirements) in the following amounts:

  • Vnesheconombank is to purchase relevant issues of bonds in the amount of up to 100% of the sum specified in the application provided that a credit institution is an issuer of bonds and has a credit rating that complies with Requirements or its bond issues are guaranteed by the Housing Mortgage Lending Agency (Condition 1);
  • Vnesheconombank is to purchase senior tranches of relevant bond issues in the amount of up to 90% of the sum specified in the application provided that a credit institution issues mortgage-backed bonds through its agent (Condition2).

 

NAME OF CREDIT INSTITUTIONS AMOUNT OF BONDS PURCHASED BY VNESHECONOMBANK UPON MEETING CONDITION 1,
(BILLION RUBLES)
AMOUNT OF BONDS PURCHASED BY VNESHECONOMBANK UPON MEETING CONDITION 2,
(BILLION RUBLES)
OJSC Gazprombank 30,0 27,0
OJSC Uralsib 20,0 18,0
OJSC Khanty-Mansi Bank 7,0 6,3
OJSC Investtorgbank 6,0 5,4
OJSC Bank Vostochny 5,0 4,5
CJSC VTB 24 5,0 4,5
CJSC Housing Lending Bank 2,5 2,25

 

2/3 of bonds originated by a credit institution are scheduled to be purchased with a coupon rate of 9% by way using pension savings funds, 1/3 of bonds - with a coupon rate of 3% by way of using Vnesheconombank’s own funds.

Bonds originated by the Housing Mortgage Lending Agency are to be purchased at par value by Vnesheconombank in the total amount of 25 billion rubles, out of these bonds, bonds in the amount of 16.7 billion rubles are scheduled to be purchased with a coupon rate of 9% by way of using pension savings funds and bonds in the amount of 8.4 billion rubles are scheduled to be purchased with a coupon rate of 3% by way of using Vnesheconombank’s own funds.

 

Press Office of Vnesheconombank
Contact person: Ekaterina Karasina
Phone: +7 (495) 608-46-93, Fax: +7 (499) 975-21-34
E-mail: press@veb.ru

 

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