|
in the second half 2005, Bank ZENIT purchased over 90% of shares in Almetyevsk-based Devon-Credit Bank In detail…
|
|
Security-Backed Financing, REPO Transactions |
 |
ZENIT Bank ranks among the leading Russian operators providing securities-backed financing (REPO transactions). The Bank arranges REPO transactions for the following securities:
Russian foreign bonds OVZ (Eurobonds); Russian domestic bonds OVGVZ (MinFins); Russian corporate stocks (blue chips) and their ADRs. REPO transactions involving foreign currency denominated bonds will be in the foreign currency; those involving stocks may be both in rubles and foreign currency. The term of the transactions is from 2 weeks to 3 months.
The market value discounts applied by ZENIT Bank to the REPO transactions are 20 to 25% for Eurobonds depending on maturity, 30% for MinFin bonds, and 40% for stocks. The interest is 5% or higher on dollar-denominated transactions, and 6% or higher on ruble transactions.
ZENIT Bank offers various REPO arrangements to provide optimal accounting solutions for the client.
Kirill Kopelovich
Tel. 933-07-38 E-mail: kopelovich@zenit.ru
|
|
|
