RUSSIA AND THE LONDON CLUB HAVE SIGNED THE AGREEMENT ON SETTLEMENT
RUSSIA AND THE LONDON CLUB HAVE SIGNED THE AGREEMENT ON SETTLEMENT
DEBTS OF THE FORMER USSR.
Moscow. On October, 6th. AFI - Foreign trade and investment bank of the Russian Federation and the London club
Creditor banks have signed on Monday in Moscow in President-hotel
The agreement on re-structuring of debts of the former USSR.
As it is informed in the Foreign trade and investment bank press release, with Russian
The parties a package of contracts on settlement of debts of the former USSR
Before foreign commercial banks within the limits of the London club
The chairman of Foreign trade and investment bank Andrey Kostin, from the party has signed
Creditors - heads of banks-members Bank advisory
Committee of the London club, in which number the largest financial
Institutes of the USA, the Western Europe and Japan: Banca Commerciale Italiana,
Bank or America, The Bank of Tokyo-Mitsubishi, Banque Nationale de
Paris SA, Commerzbank AG, Credit Lyonnais SA, CREDITANSTALT -
Bankverein, Dai-Ichi Kangyo Bank, Deutsche Bank AG, Dresdner Bank,
Industrial Bank of Japan, Ltd., Mediocredito Centrale.
In November, 1995 in Frankfurt am Main the government of the Russian Federation and
Members of Bank advisory committee of the London club was
The Memorandum of the co-ordinated principles of the global is signed
Re-structurings of a debt of the former USSR to the given club for a total sum of $32,3
Billion, including percent, for a period of 25 years with the seven-year preferential
The period.
The agreement signed in Moscow, provides, that for
Debts settlements on percent release is provided
The percentage bonds as which emitter will act
Foreign trade and investment bank and which will be registered on Luxembourg
To stock exchange. The reference of these bonds as in Russia is provided,
And behind its limits.
For date of renewal of debts on the London club (closing
date) - roughly on December, 2nd, 1997 - creditors poluchatnalichnye payments on account of a part of percent for the sum more than $3
Billion On
The rest of not paid percent the percentage will be given out
Bonds.
With coming into force of the agreement with the London club the suppressing
Part of debts of the former USSR which many times over exceeds the Russian
The debts, will be settled. As a result, it is possible to expect
The further increase of a credit rating of Russia, it is marked in a press -
Release.
//* an information Source: the INTERFAX-UKRAINA, 6.10.97
//* Reg. Nom. - 8071000093.65-------------------------------------------
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