Thursday, August 17, 2017

UBRD provides more than $600 in international financing over last two years

The Ural Bank for Reconstruction and Development announced on Friday that the value of its trade in international financing over the last two years has exceeded $600 million.

Much of the bank's recent international financing transactions were overseen by Sergei Sisoshvili, the director of UBRD's Department of International Business. Sisoshvili said that during the the past two years, UBRD consciously sought out industrial finance projects with Germany's Euler Hermes export agency and Italy's Sace bank services. Participation in these two projects by UBRD came as the result of demands from the bank's business customers in the Urals, Moscow and St. Petersburg-- namely metallurgical operations, construction industries and consumer goods exporters.

Additionally, UBRD has collaborated with foreign banks such as Finland's Nordea; France's BNP; Switzerland's Credit Suisse and BCP; Italy's UBI Banca and UniCredit; Austria's Raiffeisen; Germany's Commerzbank, AKA Export Bank and BHF-Bank; Belgium's KBC Bank; and the U.S.'s Bank of New York. UBRD enlisted the services of Sberbank, VTB, U.S. company BCP Securities and BNP Paribas to organize the placement of Eurobonds.

In August, UBRD became the first bank in the Russian market to successfully close the syndication of interbank organized under English law-- a transaction organized by Alfa Bank. As a result, UBRD can loan its liabilities in the secondary market.