Russia Goes It Alone With First Eurobond Since Sanctions Imposed

Published in World
Monday, 23 May 2016 15:33

Russia is venturing into the international bond market on its own after being shunned by the U.S. and European lenders it approached to underwrite its first Eurobond since sanctions were imposed two years ago. State-run VTB Group’s investment banking unit is acting as the sole organizer for the sale of 10-year dollar-denominated notes, which are being marketed with a yield of 4.65 to 4.9 percent, according to a person familiar with the matter. The benchmark-sized offering of at least $500 million comes after a rally in Russian assets pushed yields on outstanding debt to levels that preceded the penalties introduced in July 2014.
Russia’s attempt to find underwriters for the Eurobond in February failed after interference from the U.S. and European Union led banks including Goldman Sachs Group Inc. and Deutsche Bank to drop out of the bidding process. Any proceeds from the sale on Monday would not be directed to any activity that violates sanctions, according to the person, who wasn’t authorized to speak publicly about the deal and asked not to be identified.
"My understanding is that there are already orders in the book from international investors," Sergei Strigo, who helps oversee $3.5 billion in emerging-market assets as a money manager at Amundi Asset Management in London. "It will be a case-by-case basis whether investors will be able to participate on the primary market. Everyone has their own compliance department and it’s up to them to give them the go ahead."
source: kyevpost 

The Meeting of the Speaker with PACE President (Video)

Published in Video
Thursday, 07 May 2015 16:36

David Usupashvili met with Anne Brasseur. The parties spoke about events in Georgia and in the region, Russian occupation of Georgian territory and situation in Ukraine.

The Speaker thanked Mrs. Brasseur for adoption of the supportive resolution for Ukraine and noted that Georgia will always support the resolution. The parties also considered the Constitutional, electoral, judicial and municipal reforms and agreed to enhance relations between Georgia and CoE.

The meeting was attended by T. Japaridze, L. Berdzenishvili, I. Chikovani and T. Bokuchava. After the meeting, the parties made the joint statements.

“This visit is one more expression of enhancement of Georgia-CoE relations. We agreed to work in this direction. Sometimes, when we have the problem with quorum in the Parliament, it is due to the fact that 10-12 MPs are occupied in PACE, striving not only for Georgia but for Europe. This is the platform, where Georgian politicians participate in construction of Europe, solution of European issues”, - the Speaker stated.

PACE is an important European institution, actively facilitating Georgia to hold the democratic reforms and creation of institutional environ. “Let me remind you that in line with CoE recommendations, we have implemented the most important reforms in judicial sphere, municipal sphere, in political system, legislation on political parties, electoral system and many other spheres. Let me also remind you that the Venice Commission, well-known in Georgia, acts under the aegis of this organization and many other instruments, with which CoE supports Georgia”. “For me, as for the PACE President, it is important to visit the countries first of all to have the personal contacts; also to better understand the country, people, politicians and civil society, to meet media. So, I thank you for the interest, expressed in my visit”, - Mrs. Brasseur stated.

The Parliamentary Delegation of Georgia plays an important role at PACE sessions. “You shall be proud of your delegation, which is very active, particularly at Committee sittings, playing an important role. The Georgian delegation, in terms of attendance, is the 4th country amongst 47 countries. I think, it is important for MPs, to have contacts with their counterparts but it is also important to better understand Georgia. It helps us in development of democracy, rule of law and human rights protection. All democratic forces shall stand beside the civil society and religious leaders to fight against hatred and intolerance as it undermines democratic system and is a real threat – it is the message from CoE” – A. Brasseur stated.

Geo-political situation and Ukraine vents touched particularly the region and Georgia. “We shall find the joint solution. Violence can never be the solution, it is hard but we shall proceed. On our turn, by means of the Parliamentary delegation, we shall find the way out. After termination of suffrage to Russian delegation, they decided not to work with us. They still are the members. We want to talk with them and I hope we will find the way to continue this dialogue but one of the main principles CoE is based on, I will reiterate it here, in Georgia, is territorial integrity. No one has right to violate this principle and it concerns Abkhazia and South Ossetia as well”. She also spoke about Constitutional, electoral Code and judicial reforms. “Some steps have been made but it is important that there is no impunity, is it a civil society or a politician – all breaches shall be punished. Jurisdiction shall be transparent and the system – reliable”. Solution of the problems in the country is possible with bilateral dialogue and mutual respect. “I hope you will find the solution for your problems to continue protection of your citizens”.

The visit started on May 6 and will be accomplished on May 9. A. Brasseur will meet the legislative and executive, as well as judicial authorities.

"Territorial Integrity is our main Principle" - Anne Brasseur

Published in Politics
Thursday, 07 May 2015 12:28

„We have to continue parliamentary diplomatic practices. When Russian Federation’s delegation’s right to vote was suspended at the parliamentary assembly, they decided to stop working with us. We did not quit their rights, they are our members and we want to continue cooperation with them, but territorial integrity is one of our main principles and it is impossible to ignore this. Nobody has right to change the principle with force. This subject is related to Abkhazia and South Ossetia”, - said the President of Parliamentary Assembly of Council of Europe, Anne Brasseur during the press conference held after the meeting with Georgian Parliaments Speaker David Usupashvili.

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