BPS-Sberbank head: Who is ready to take Belarusian risks now?

• 31.07.2012, 13:42

Russian bankers have a skeptical view of the state of the Belarusian economy.

Russian Sberbank is not afraid of competitiveness in the sphere of refinancing a $1bn syndicated loan, issued to Belaruskali at the end of 2011, but prepared new price offers on the loan terms and conditions.

“There is a variant when a person says: I don't need your money. The person, who lent him money, begins to fuss and offer more interesting terms. It might have happened so. I don't hide that our group made another very interesting proposal,” Vasily Matyushevski, the chairman of the board of BPS-Sberbank, told journalists commenting on talks with the Belarusian authorities on the further fate of the deal.

“As we promised a year ago, such proposal was formulated. We regard it as a very interesting in price and quality. It's up for the Belarusian party whether to take it or not. If they agree, our group will be happy to refinance this bridge,” Interfax quotes Matyushevski.

Commenting on a possible competition in refinancing the syndicated loan, Matyushevski asked rhetorically, “Who else is ready to take Belarusian risks?” He also noted, “Competition is always good. It's good there is VTB Bank. We welcome it. It's always interesting to see,” Matyushevski said.

We remind the Belarusian authorities recently said they were ready to pay off the $1bn syndicated loan ahead of schedule, but continue to negotiate with Russian Sberbank and Russian VTB Bank on conditions of the loan refinancing.