OREANDA-NEWS. VEB's Supervisory Board approved basic parameters for purchasing by the state managing company (SMC) in 2015 corporate bonds in line with reliability parameters through using pension savings funds (PSF) in the extended investment portfolio.

The following basic parametershave been established for transactions on purchasing bonds of OJSC RZHDin the amount of 37 billion rubles with a maximum maturity of 20 years, Federal State Unitary Enterprise (FSUE) the Post of Russia in the amount of 3 billion rubles with a maturity of 15 years, OJSC Rosseti in the amount of 6 billion rubles with a maturity of 30 years, OJSC KAMAZ in the amount of 10 billion rubles with a maturity of 15 years and five-year bonds of OJSC VEB-leasing for an amount of 4 billion rubles.

VEB's Supervisory Board made a decision on purchasing up to 100% of the said companies' long-term bonds taking into account that they are in full compliance with reliability parameters as well as insufficiency of funds for meeting their needs for raising long-term investments.

A decision was also made to use as a basis rate a key rate of the Bank of Russia multiplied by 1% per annum besides consumer prices growth index upon determining minimum level of floating coupon rate. In order to minimize a possible conflict of interests a minimum required level of yield for bonds of OJSC VEB-leasing as Vnesheconombank's affiliated company was established at a level of OFZ issue with a similar period till maturity increased by 2.35%.

A total volume of bids for purchasing of up to 100% of the said companies' bond issues through using PSF received by VEB amounted to 110 billion rubles. The rated amount of the extended PSF portfolio for investing in bonds of infrastructure and production companies in 2015 amounts to 60 billion rubles.

SMC long-term investments provide new opportunities for developing and upgrading infrastructure as one of the key elements for boosting long-term global competitiveness of the Russian economy. It is pension savings funds managed by SMC are practically the onlyreal source of long money in the economy.