Alfa-Bank and Sber are conducting two parallel transactions with digital financial assets (DFAs), according to the bank’s website. They will issue short-term debt in DFA format on their own platforms. The placement period for both issuances is from December 4 to December 11 and the yield is 15% per annum. The volume of each issue is 1 billion rubles.
In both cases, it is stated that the issuer on the Sber and Alfa-Bank (“A-Token”) platforms is Alfa-Bank. At the same time, investors in the Sber digital asset platform are Sber and other legal entities.
“We have connected to each other’s platforms to expand financing opportunities for our mutual corporate clients and arrange syndicated loans, including in the secondary market. Successful implementation of mutual operations will allow you to go through the process of technological and methodological interaction from beginning to end. “This is an important milestone in organizing large transactions for corporate clients,” said Vladimir Voeikov, director of large and medium-sized businesses at Alfa-Bank.
According to him, the DFA market is in an active growth phase. He noted that the interbank partnership will play an important role in the development of this business as a whole.
“For the first time in the Russian financial market, two major banks are carrying out a joint transaction for the issuance of digital financial assets with short-term debt obligations. This is also a new experience for us: This is the first time we are investing in a DFA whose issuer is a financial institution. The synergy of two major Russian banks will give additional impetus to the development of the digital financial services market in Russia,” said Alexander Vedyakhin, First Deputy Chairman of the Board of Directors of Sberbank.
He noted that DFA is a flexible tool that allows issuers to formulate parameters independently for each issue. Vedyakhin explained that its use gives companies the opportunity to minimize the costs associated with the issuance and secondary circulation of debt obligations.
“We think this will unlock the potential of the short-term public debt market. “In the future, we expect the new issuance and placement of DFAs in Russia to expand the range of tools available to Russian companies to manage liquidity, attract and place funds,” he emphasized.
Vedyakhin added that Sber also plans to act as an investor in the issuance of digital financial instruments in the Alfa-Bank information system.
Source: Gazeta
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