DeltaLeasing Syndicated Loan

Location:

Russia

Project number:

36758

Business sector:

Leasing Finance

Notice type:

Private

Environmental category:

FI

Target board date:

15 Jun 2006

Status:

Completed

PSD disclosed:

05 May 2006

Project Description

The proposed project envisages a broadening of the EBRD relationship with DeltaLeasing with providing a syndicated loan of USD 15 million to DeltaLeasing, a leasing company operating in the Russian Far East, Sakhalin and Siberia. The loan will be syndicated under A/B structure with EBRD finance of USD 6 million. The Project is aimed at supporting the leasing sector in the Russian Far East, Sakhalin and Siberia and the growth of the company’s leasing portfolio.

Transition Impact

The transition impact potential of the Project arises mainly from its support of the development of the Russian leasing sector, and the leasing sector of the RFE in particular. This will be the first syndicated loan to a regionally-based leasing and will therefore have a significant demonstration effect across the financial markets.

The Project will strengthen the development of the regional private companies in particular on Sakhalin Island by promoting financial intermediation and increasing the level of available medium-term resources. The Project will also introduce commercial lenders to DeltaLeasing and demonstrate that commercial financing of lease receivables is Achievable in the Russian Far East.

The Client

DeltaLeasing, a Russian leasing company established in 1999 and wholly-owned by the US-Russia Investment Fund (TUSRIF).

EBRD Finance

Term loan of USD 6 million (EUR 5 million).

Project Cost

USD 15 million (EUR 12.4 million).

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

 

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

Project Complaint Mechanism (PCM)

The Project Complaint Mechanism (PCM) is the EBRD's accountability mechanism. It provides an opportunity for an independent review of complaints from individuals and organisations concerning EBRD-financed projects which are alleged to have caused, or are likely to cause, environmental and/or social harm.

Please visit the Project Complaint Mechanism page to find information about how to submit a complaint. The PCM Officer (pcm@ebrd.com) is available to answer any questions you may have regarding the submission of a complaint and criteria for registration and eligibility, in accordance with the PCM Rules of Procedure.