Project description
and objectives:
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The proposed securitisation project would refinance retail auto loans
originated by Russian Standard Bank (“Originator”), thereby freeing up capital
and providing new funding to make new auto loans in Russia. The EBRD would
subscribe to mezzanine and/or junior bonds issued against a securitised
portfolio of Russian Standard Bank’s auto loans.
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Transition impact:
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Securitisation is an important source of refinancing. The proposed project
would be one of the first and one of the largest car loan securitisations in
countries of the Bank’s operation and would accelerate the development of the
Russian capital markets by widening the investor base for this asset class. It
would also make auto financing more readily available, particularly in the
Russian Federation regions, thereby enabling Russian consumers to acquire
passenger cars more easily and contributing to increased demand and economic
growth.
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The client:
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JSC Russian Standard Bank, the leading consumer finance bank in Russia.
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EBRD finance:
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EBRD will invest in mezzanine and/or junior bonds denominated in Euro and
securitised by a portfolio of auto loans originated by Russian Standard Bank.
The transaction structure envisages the issuance of approximately EUR 300
million of senior, mezzanine and junior bonds (excluding the Originator
provided finance) with EBRD subscribing to up to approximately EUR 25 million
of the mezzanine/junior bonds, and other international and domestic investors
subscribing to the senior and remaining bonds.
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Total project cost:
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Up to EUR 350 million, including financing provided by Russian Standard Bank.
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Environmental impact:
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There are no environmental risks associated with the retail lending, therefore
there will be no specific environmental requirements associated with this
operation.
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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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Levan Zolotarev, Senior Vice-President, Director Financial Markets
Tel: + 7 495 797 84 09
Fax: + 7 495 797 8440
Email: lzolotarev@bank.rs.ru
Maxim Timoshenko
International Business Department
Tel: +7 495 797 8404
Fax: +7 495 797 8440
Email: mTimoshenko@bank.rs.ru
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EBRD contact:
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Yerbolat Rakhmetov, Operation Leader: rakhmety@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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