On Redeeming V-th Tranche OVGVZs and Making Coupon Payments on V-th and VII-th Tranche OVGVZs

14 may 2008 года
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On May 14, 2008, Vnesheconombank acting as the paying agent for the Russian Federation Finance Ministry redeemed V-th tranche OVGVZs submitted by their holders for redeeming as of May 14, 2008 including those in custody accounts with Vnesheconombank. The amount of payments to redeem V-th tranche OVGVZs was 2.47 billion US dollars.

Vnesheconombank also made coupon payments on V-th - VII-th tranche OVGVZs in the total amount of 104.85 million US dollars. Coupon payments were made on the basis of 3% coupon interest rate per annum.

Holders of V-th tranche OVGVZs who failed to submit their bonds to Vnesheconombank for them to be redeemed on a set date will be able to do it starting from May 16, 2008 within a period of 10 years.

Once V-th tranche OVGVZs have been redeemed, only VII-th tranche OVGVZS in the amount of 1.75 billion US dollars with maturity date on May14, 2011 will remain in circulation.

 

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

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On agreement signed by Vnesheconombank, Sumitomo Mitsui Banking Corporation and Sumitomo Mitsui Banking Corporation Europe Limited

12 may 2008 года
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Today, on May, 12, 2008, state corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’, Sumitomo Mitsui Banking Corporation (‘SMBC’) and Sumitomo Mitsui Banking Corporation Europe Limited (‘SMBCE’) signed an Agreement on Cooperation in the area of implementing the Kyoto Protocol provisions aimed at formulating environment protection policy and preventing climate change.

In line with the Agreement, it is envisaged to develop cooperation in selection, evaluation and preparation of projects, whose implementation will considerably contribute to creating a benign environment for devising, applying and fostering ecologically safe technologies.    

Also, the Document defines the parties’ commitments to jointly study and elaborate projects designed to reduce greenhouse gas emissions. Apart from it, the Agreement demonstrates the parties’ intentions to assess the respective risks and devise the most optimum schemes of financing and administering these projects, as well as to arrange the respective projects co-financing.

Implementing the Agreement will enable Vnesheconombank to undertake practical steps on the international level to support and introduce the main innovation mechanisms, ensuring reduced environmental pollution, that were adopted in the Kyoto Protocol to the United Nations Framework Convention on Climate Change (UNFCCC).

 

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

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