Moscow, May 8, 2015– The Russian Direct Investment Fund (RDIF), the Russia-China Investment Fund (RCIF) and one of China’s leading banks, China Construction Bank Corporation (CCB), have agreed to enter into a partnership which will facilitate debt financing of creditworthy Russian companies by Chinese banks. The agreement was signed in the presence of Russian President, Vladimir Putin, and Chinese President, Xi Jinping.
Under the agreement the parties will establish a close working relationship to facilitate cooperation between high-quality Russian issuers and leading Chinese credit institutions. The parties are currently reviewing several projects where potential investment from RDIF and RCIF will allow Chinese banks to increase the limits on loans and improve access to currency funding for both Russian and Chinese creditworthy companies in a compliant way.
Kirill Dmitriev, CEO of RDIF and co-CEO of RCIF,said:
“We see this as a great opportunity to satisfy growing demand among Russian corporates for external financing from Chinese banks. It will benefit Russian companies by facilitating the implementation of their strategies and investment programmes, while Chinese credit institutions will secure reliable borrowers, strengthening business cooperation between our countries.”
Hu Bing, President and co-CEO of RCIF, said:
“The Russia-China Investment Fund is at the forefront of financial cooperation between China and Russia. We see excellent opportunities with many Russian companies seeking debt financing from overseas markets, and it is of mutual interest to leverage the strong capital of Chinese banks and financial institutions, which have active plans to invest internationally.”
Russia-China Investment Fund (RCIF)is a private equity fund established to invest in unique opportunities which have appeared as a result of rapid development of economic cooperation, fast growing trade, and increasing purchasing power of the middle class in Russia, China and CIS countries. The Fund was created by the Russian Direct Investment Fund (RDIF) and China Investment Corporation (CIC). RCIF are most focused on cross-border transactions, as well as investment opportunities within the economic region across a broad range of sectors to facilitate both countries’ the structuralreforms and economic efficiency. Further information at www.rcif.com
Russian Direct Investment Fund (RDIF)was established in 2011 to make equity co-investments, primarily in Russia alongside reputable international financial and strategic investors. RDIF acts as a catalyst for direct investment in the Russian economy. Based in Moscow, RDIF’s management company is a 100% subsidiary of Vnesheconombank. Further information at www.rdif.ru
China Construction Bank Corporation (CCB), established in October 1954 and headquartered in Beijing, is a large and leading joint-stock commercial bank in China and a well-known brand in overseas markets. As at the end of 2014, the market capitalization of the Bank reached USD 207.9 billion, ranking fourth among all listed banks in the world. CCB has an extensive network of 14,856 branch outlets in mainland Chinaand more than one hundredoutletsoverseas, serving 3.48 million corporate customers and 314 million personal customers, and maintains close relationships with leading enterprises in strategic sectors for Chinese economy and numerous high-profile clients. Further information at www.ccb.com
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