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News

30.03.2010

Rosbank guarantee

Rosbank’s integration into Societe Generale Group goes at full drive. Latest evidence of this process was the cooperation with Group’s banks in trade financing area. Since the beginning of 2010 Rosbank became the guarantee on several deals totaling more than 40 mln. Dollars.

On March, 10 Rosbank gave counter-guarantee in the amount of 28 mln. Dollars in favor of SG\New Delhi as a security of obligation of OJSC Power Machines on participating in competitive tendering, which includes delivery of steam turbines and electrostatic generators for Indian state generation company Rajasthan Rajya Vidyut Utpadan Nigam Ltd. Also the year 2010 is marked by a significant cooperation between SG\Mumbai and Rosbank. A deal for a $ 10 M bid bond (± 7 M €) between NTPC India (National Thermal Power Corporation) and OJSC Power Machines – Moscow was successfully concluded in February.

Another prime example of successful team-work was Rosbank’s guarantee by order of State Board of President of Russian Federation in the amount of 3 bln.euro in favor of SG\Paris for following issue of guarantee in favor of French Republic on Paris’s land acquisition.

State Board of President of Russian Federation already won competitive tendering and signed the contract of land acquisition. On March, 11, Russia became a legal holder of more than 4000 square meters of French capital. Russian Federation is going to build an orthodox cathedral, seminary and a couple of cultural-ecclesiastical buildings here.