The EBRD is considering a senior secured loan for Swizza Holding Limited, Cyprus (the “Company” or “VostokFinance Group”).
The EBRD financing will be used to further expand the Company’s business of acquiring and resolving unsecured retail non-performing loans and receivables (“NPL”) from originating financial institutions in Russia and Ukraine as well as potentially Kazakhstan. The EBRD loan proceeds will be down-streamed to the respective countries for eligible NPL purchases.
The Project will support a leading NPL asset manager to further expand its operations as well as the NPL market in Russia and Ukraine and potentially Kazakhstan. This is expected to have a beneficial impact on financial institutions’ balance sheets, introduce further efficiency in the NPL market and continue setting of standards of reputable and responsible resolution of NPLs in the countries concerned.
VostokFinance Group is one of the leading NPL asset managers in Russia and Ukraine, focusing on acquisition and resolution of NPLs from originating financial institutions in Russia and Ukraine. The Company considers a business expansion to Kazakhstan.
VostokFinance Group is a member of the National Association of Professional Collection Agencies (NAPCA; Russia) and the Ukrainian Collection Business Association (ACBU; Ukraine) and is regulated by the codes of ethics of these associations, as well as by the Code of Conduct of the Federation of European National Collection Associations (FENCA).
Up to USD 10 million multicurrency senior secured loan denominated in USD and RUB.
At least USD 15 million, including financing from other lenders.
Categorised FI. The Company's NPL collection procedures are strictly based on the European Code of Conduct for Collection Agencies. The Company will be required to comply with the EBRD's Performance Requirements 2 and submit annual environmental and social reports to the EBRD on the implementation of PR2 and the Code of Conduct.
For business opportunities or procurement, contact the client company.
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Tel: +44 20 7338 7168
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