Troika Dialog Pre-IPO and Bond Issue Credit Facility

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Project ID 38138

Status Complete

Location

Regional

Business Sector

Notice Type

Private

Project timeline

Exploratory
Passed Concept Review
Passed Structure Review
Passed Final Review
Board Approved
Signed
Implementing
Completed

Project ID 38138

Status Complete

Location

Regional

Business Sector

Notice Type

Private

Environmental Category

Approval Date

06 Nov 2007

Disclosure date

22 Jun 2007

As per section 1.4.2 (iii) of the Directive on Access to Information: "For Projects approved by Bank management where the Board of Directors has delegated the approval authority, the PSD shall be disclosed at the start of the relevant no-objection notification period to a member country of the Bank in accordance with Article 13 (iii) of the Agreement Establishing the EBRD."

Project Description

The proposed project is a revolving stand-by facility to be used by the Client to provide short term bridge loans to its corporate clients seeking an access to capital markets through primary equity and bond issues. The project will complement Client’s advisory business and will encourage development of financial intermediation in to Russia and FSU and foster competition on the local capital markets.

Transition Impact

Transition impact stems from improved access to capital markets for Russian companies seeking to raise equity and debt finance by broadening source of their funding beyond banking sector. The project will contribute to sustainable improvement in transparency of Russian issuers implied by public listing. The project will also encourage greater competition among investment firms operating in the Russian market. Finally, it will improve depth of the domestic capital market by widening local investor base through Client’s expanding retail network.

The Client

Founded in 1991, Troika Dialog Group (“the Group”),is a market leading independent full service investment banking, brokerage and asset management firm with a focus on securities markets in Russia and the CIS. The Group’s operations are located in 13 cities across Russia as well as Kyiv, Nicosia, London and New York. The Group is a partnership with 100% ownership by the management and employees. The principal shareholder ,Chairman of the Board and CEO is Mr. Ruben Vardanian.

The Group recorded total revenues of USD450 million in its financial year ending 30th September 2006 and recorded total assets of USD 2.4 billion and total stockholders ‘ equity of USD 288 million as at 30th September 2006 under US GAAP audited consolidated financial statements.

EBRD Finance

US$ 100 million.

Project Cost

US$ 200 million.

Environmental Impact

The Client will be required to comply with the EBRD’s Environmental Procedures for Intermediated Financing through Local Financial Institutions including ensuring compliance with the applicable national environmental, health, safety and labour standards and regulations, and adherence to the EBRD’s Environmental Exclusion and Referral List.

Technical Cooperation

None.

Company Contact

Mr. Richard Ogdon
Troika Dialog Group
4, Romanov pereulok, 125009
Moscow, Russia

Tel. +7 (495) 787 2380
Fax +7 (495) 258 0547

Transition impact

ETI Score:60

PSD last updated

01 Feb 2019

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

Public Information Policy (PIP)

The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP

Environmental and Social Documentation is not available for this project.

Selected procurement notices related to this project may be shown below. Further procurement opportunities related to this and other projects, if available, maybe be viewed in the EBRD Procurement Portal.

The EBRD's Environmental and Social Policy (ESP), Access to Information policy (AIP) and Project Accountability Policy (PAP) enable sound and sustainable development in its projects. The Independent Project Accountability Mechanism (IPAM) deals with complaints about environmental, social and disclosure matters related to the Bank’s investments.

No complaints about this project have been made so far.

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