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Weekly Lists
July 19, 2019 www.intellinews.com I Page 25
bne:Banker Court freezes $572mn
of ex-founder of Russian Otkritie, bank places first bonds after bailout
Turkish lender TSKB renews syndicated loan at 50bp lower cost
The High Court in London blocked $572mn worth of assets of Russian billionaire and ex-founder of Financial Corporation Otkritie Boris Mints, RBC business portal reported on July 12.
Reportedly, the court ruling follows the suit filed by several banks to recover $700mn worth of losses from Mints. Apart from Otkritie, Mints was one of the shareholders in Promsvyazbank (PSB). Both were the two largest private banks to be bailed out by the Central Bank of Russia (CBR) in 2017.
In a separate report, the bank announced on July 12 that for the first time since 2017 Otkritie had re-entered the debt market, placing RUB10bn ($153mn) worth of 3-year domestic bonds at 7.85% annual yield, with the demand exceeding supply 4.5-fold.
Turkiye Sinai Kalkinma Bankasi (Industrial Development Bank of Turkey, or TSKB) has obtained a 367-day syndication loan in two tranches of €97.5mn and $67.5mn, the lender said on July 9 in
a stock exchange filing.
The all-in costs at TSKB’s syndicated loan renewal stood at Libor+200bps and Euribor+200bps for each tranch, lower than Libor+250bps observed a year ago, Seker Invest said on July 10 in its daily bulletin.
TSKB raised a total of $177mn via the syndicated loan agreement, pointing to a rollover rate of 80% compared to 69% observed at Is- bank’s latest syndicated loan renewal and 77% at Yapi Kredi Bank’s renewal, according to the Istanbul-based brokerage.
Latvia’s financial market watchdog FKTK fined Rigensis Bank,
the country’s 11th-biggest lender by assets, €1mn for breaching regulations on money laundering and terrorism financing, the FKTK said on July 16.
The FKTK identified “a number of infringements related to the internal control system, customer base risks and their management. The irregularities showed serious shortcomings in the Bank’s internal control system in the [anti money laundering and terrorism financing] field,” the watchdog said in a statement.
Among the irregularities pinned down by the FKTK, Rigensis Bank failed to track origins of money in its customer accounts or failed to determine beneficial owners of some of the accounts.
Latvia’s Rigensis Bank fined by watchdog