Olips CJSC has been trying to attract more investments from the open capital markets. It is currently dealing with the bills of credit and has already proceeded with two tranches, one of which has been retired, the Director of BrokerCreditService Management Company Viktor Nemikhin announced at the conference called Commercial Real Estate and Construction Project Financing; this conference was conducted by Expert magazine.

According to Mr Nemikhin, the bills are valid for three months, which is next door to nothing, from the developer’s point of view, but Olips is trying hard to pursue its goals. Their Financial Director Alexei Ananiev says that this bill of credit program is seen as not so much the way to attract investments as the pre-marketing tool meant to facilitate the company’s breaking into the financial market.

‘We’ve made our company more recognized and acquired a publicly known credit record. The main thing is that the first tranche, which enjoyed great demand, made it clear that people were willing to trust us.’ Mr Ananiev said.

The enterprise’s next goal is a bond issue. According to the participants of the conference, following the bills of credit the company might offer them at prices that are 1.5% to 2% cheaper.