Vneshtorgbank, the largest bank in Russia and advisory house Taylor-DeJongh have signed a cooperation agreement. In accordance with the agreement, a mutually beneficial cooperation of the parties will help realise Russian-American trade and investment projects and facilitate the development of economic relations between Russia and the US, including those under the framework of the existing inter-governmental agreements.
Vneshtorgbank is one of the leading universal banks in Russia and the largest one in terms of capital. It carries the highest credit rating of any Russian bank and has extensive experience as a counterparty bank to external lenders into Russia.
The formation of this joint venture demonstrates the depth of commitment of both firms to the growing capital requirements and the attractive opportunities throughout the energy and industrial sectors in Russia. In addition, the agreement anticipates cooperation of the parties in such areas as international capital markets, trade and pre-export financing for Russian companies.
Terry Newendorp, chairman and CEO of Taylor-DeJongh says, “The teaming of Vneshtorgbank’s balance sheet strength (assets of US$7.3bn) and TDJ’s expertise in structure and project finance, capital raising, M&A and energy sector investment banking, is a powerful combination for companies investing into Russia and for Russian companies seeking to expand.”
Taylor-DeJongh provides global merchant banking and financial structuring services to a multinational clientele in the development, structuring, negotiating and financing of major capital investments around the world. The firm has over 20 years of experience in structuring successful capital investment transactions in more than 100 countries, with an aggregate value of over US$50bn. The firm is a global leader in project and structured finance transactions, especially in the oil and gas, power, petrochemical, telecoms another infrastructure sectors.