16 April 2003
Today Vneshtorgbank (VTB) Chairman and CEO Andrey Kostin and Renaissance Capital Surpervisory Board Chairman Alexander Shokhin signed an Agreement of Co-operation.
VTB and Renaissance Capital have agreed on the terms and conditions to broadly co-operate in order to improve their respective operational efficiency and service quality. The Agreement sets forth a range of activities that will encourage investments into the Russian economy, and will allow each party to reinforce its market leadership.
Under the Agreement, VTB and Renaissance Capital will join forces to implement programmes of interest to their respective clients, including local share issues, bond placements, eurobonds, credit notes, and syndicated loans for domestic companies.
The Agreement calls for the parties to thoroughly review the legal aspects of equity issuance programmes and investment project proposals presented by VTB and Renaissance Capital clients, and to help clients draft the appropriate legal documents related to the implementation of their projects, including assistance with equity market regulatory authorities and issues. The aim of the Agreement is to promote mutual economic benefit to VTB, Renaissance Capital, and their clients.
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