Italian Bank Intesa Sanpaolo are ready to participate in the placement of Russian government bonds to Russia, contrary to the recommendations of the US and the EU. This was stated by the Chairman of the Board of Directors Antonio Fallico, writes TASS. In addition, he stated that the Bank is ready to participate in the privatization of Russian companies.
“It’s not sanctions, and the recommendations of the American side. Bank Intesa is not said that we will follow these recommendations. And there are those banks that said “Yes”. We said nothing, we continue the work. Some banks said they would no longer Fund the placement of Eurobonds in favor of Russia. Against this background, Intesa said that we continue,” said Fallico.
According to him, the Bank plans to participate in the privatization of Russian companies. “What, can’t say — that’s a professional secret,” added the Chairman of the Board of Directors.
Previously, the newspaper The Wall Street Journal reported that U.S. authorities have warned major banks of the USA from participation in the government bonds of Russia. According to the newspaper, in Washington decided that it would be contrary to the policy of sanctions against Moscow. Later it became known that a similar recommendation was issued and the authorities of the European Union.
5 February Russia has sent 25 requests to foreign banks on the organization of a possible placement of Eurobonds in 2016. Requests, in particular, is directed Barclays, BNP Paribas, Bank of America Merrill Lynch, Bank of China, Wells Fargo, Goldman Sachs, J. P. Morgan, Deutsche Bank, Industrial and Commercial Bank of China, Crédit Agricole, Credit Suisse, Landesbank Baden-Wuerttemberg, Morgan Stanley, Mizuho Financial, Nomura, Citigroup, Societe Generale, Scotiabank, TD Securities, China Construction Bank, Agricultural Bank of China, HSBC, RBC Capital Markets, UBS, UniCredit, as well as three Russian banks: “VTB Capital”, Gazprombank, Sberbank CIB.
In the international borrowing market in Russia last time was in September 2013, when he sold the paper for $6 billion maturing in 2019, 2023 and 2043 respectively. Since then, Russia has not appeared on the international capital markets because of Western sanctions imposed after the annexation of Crimea, which effectively closed the country to foreign debt markets (though Western sanctions do not apply to hoteistitania).