Project number:


Business sector:

Information and Communication Technologies

Notice type:


Environmental category:


Approval date:

28 Oct 2003



PSD disclosed:

24 Sep 2003

roject Description

The EBRD will provide a senior secured loan of up to US$ 28 million to News Outdoor Russia OOO, the largest out-of-home advertising media operator in Russia. The loan will provide capex and acquisition funding and facilitate the expansion of the company's geographic coverage and the development of its product range, while improving its capital structure.

Transition Impact

The project will support further development of an important segment of the Russian infrastructure, as advertising promotes competition, access to information, and is a key element of any modern economy. The project will also facilitate the restructuring of the highly fragmented Russian outdoor advertising industry, which is dominated by small and inefficient local companies.
The project will have a high demonstration effect. As the EBRD provides debt financing to the leading company in the industry, which was previously relying exclusively on its internally generated cash and shareholder funding to meet its financing needs, it will send a signal of the Bank's confidence in the company and Russia's advertising market.

The Client

News Outdoor Russia OOO, a limited liability partnership organised in the Russian Federation, is the largest "out-of-home" advertising media operator in Russia offering billboards, street furniture, transit and point-of-sale advertising. The company is majority-owned by a joint venture company created by The News Corporation Limited and a private equity fund managed by Capital International Inc.

EBRD Finance

The proposed financing consist of a loan for the Bank's own account in the amount of up to US$ 20 million with the participant banks providing the balance.

Project Cost

The total project costs are estimated at US$ 67 million (€ 59 million). The remaining US$ 39 million will be financed by the existing cash balances of the company, the internally generated cash and shareholders' equity.

Environmental Impact

The project was screened B/0. Environmental due diligence confirmed that, apart from standard land use planning requirements and permits and the planning and installation of advertising units, there are no environmental issues associated with this business. The company has confirmed that News Outdoor Russia OOO is in full compliance with the Advertising Committee and relevant municipal bodies' specifications and standards associated with the Russian outdoor advertising industry.

Technical Cooperation


Company Contact

Mr. Salim Tharani
News Outdoor Russia
PO Box 86, 80 Leningradsky prospect
Moscow 125190
Russian Federation

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168

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

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