Delta Leasing Rouble Loan

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Project ID 40275

Status Complete

Location

Russia

Business Sector

Notice Type

Private

Project timeline

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

Project ID 40275

Status Complete

Location

Russia

Business Sector

Notice Type

Private

Environmental Category

Approval Date

13 Apr 2010

Disclosure date

05 Feb 2010

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."

Translated version of this PSD: Russian

Project Description

The EBRD is considering providing a senior loan of RUB 480 million to DeltaLeasing, a leasing company operating in the Russian Far East, Siberia, the Urals and extending its regional presence to other Russian regions. The loan will consist of two equal tranches: the first tranche will be used for refinancing existing hard currency debt of the company and replacing it by Rouble borrowing and the second tranche will be used for financing new business and extending product offering.

Transition Impact

The transition impact potential of the Project arises mainly from its support of the important market participant with the ability to withstand the financial crisis. This transaction will have a strong demonstration effect as the first transaction with a leasing company in Russia after the crisis. Moreover, the proposed loan will improve the balance sheet structure of the company and allow it to mitigate its FX risk as well as extend its product offering and competitiveness.

The Project will strengthen the development of private companies in the economically challenged regions by promoting financial intermediation and increasing the level of available medium-term resources primarily to SME sector.

The Client

DeltaLeasing (“DL”), a Russian leasing company established in 1999 and owned by The U.S.-Russia Investment Fund (TUSRIF) (99.9% undiluted), with indirect participation of the company’s employees through employee stock-option plan (10.4% on fully diluted basis). The company is headquartered in the Far East, has wide regional presence nationwide, focusing on Siberia, Far East, the Urals and Central Russia. With the portfolio of USD 200 million, it was ranked number 23 by the size of its leasing portfolio as of end-September 2009.

EBRD Finance

Term loan of RUB 480 million (USD 16.7 million equivalent).

Project Cost

RUB 480 million (USD 16.7 million equivalent).

Environmental Impact

DeltaLeasing will be required to comply with EBRD’s Environmental Procedures for Leasing which require adherence to the Bank’s Environmental Exclusion and Referral List, compliance with the applicable national environmental, health and safety requirements and submission of an Annual Environmental Report to the Bank.

Technical Cooperation

None.

Company Contact

Mr. Gregory Sundstrom, Chairman
e-mail: gregorys@deltaleasing.ru

Mr. Oleg Rakitsky, CEO
e-mail: rakitsky@deltaleasing.ru

Telephone: 4232 – 491221
Fax: 4232-491220
Website: www.deltaleasing.ru

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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