Project description
and objectives:
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Sibacadembank (SAB) is planning to raise a senior A/B loan of USD 60 m, of
which USD 20 m (A loan) will be the EBRD portion and USD 40 m (B loan) will be
syndicated to commercial banks.
The project is aimed to assist SAB in raising a syndicated loan beyond the 12
months horizon available to SAB at present. The proceeds will be used for SME
and retail lending, which are the main business lines of the bank.
EBRD is also considering acquisition of a1.05% stake of SAB in 2007, once it
is merged with Uralvneshtorgbank.
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Transition impact:
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This project further enhances the transition impact made by EBRD through
assisting the development of a leading regional bank in the Siberian Federal
District (SFD). This project will be the first syndicated loan to a Russian
regional bank for maturity of more than 12 months. The proposed project will
assist SAB to: a) reduce refinancing risk and secure a longer term amortising
facility; and b) diversify its funding base. Both of these factors are
increasingly important as SAB seeks to compete with its larger state-owned and
Moscow-headquartered competitors.
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The client:
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SAB is a universal regional bank established in 1990 in Novosibirsk and
operating across the largest private banking network in SFD and the Russian
Far East. At end-2005 SAB was ranked 40th and 44th in terms of total assets
and equity respectively among the Russian banks. SAB has B1/Positive rating
from Moody’s and B/Stable from Fitch.
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EBRD finance:
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EBRD will provide SAB with an A loan of USD 20 m.
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Total project cost:
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Senior A/B loan of USD 60 m, of which USD 20 m (A loan) will be the EBRD
portion and USD 40 m (B loan) will be syndicated to commercial banks.
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Environmental impact:
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SAB adopted EBRD’s Environmental Procedures for Intermediated Finance through
Local Banks in the full range of its commercial lending activities. SAB is
also in full compliance with applicable national environmental, health and
safety requirements and adheres to the Environmental Exclusion and Referral
List.
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Technical
cooperation:
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None.
For consultant opportunities for projects financed by technical cooperation
funds, visit procurement
of consultants.
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Company contact:
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Mr. Ilia Mitelman, Deputy Chairman of the Management Board
Tel: + 7 495 9357261
Fax: + 7 495 9357261
Email: Mitelman@mtbank.ru
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EBRD contact:
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Tamara Kakuchaya, Operation Leader: kakuchat@ebrd.com
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Business opportunities:
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For business opportunities or procurement, contact the client company.
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General enquiries:
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EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168; Fax: +44 20 7338 7380
Email: projectenquiries@ebrd.com
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