Investment Troika Dialog Group Senior Loan

Location:

Russia

Project number:

39913

Business sector:

Non-depository Credit (non bank)

Notice type:

Private

Environmental category:

FI

Target board date:

16 Jun 2009

Status:

Completed

PSD disclosed:

16 Jun 2009

Project Description

The EBRD has approved a loan of up to USD 150 million to Investment Company Troika Dialog. The loan will be used to:

i) support the company to meet its working capital needs for trading and brokerage activities on Russian capital markets; and

ii) reduce the company’s dependency on short-term funding and stabilize its funding base.

Transition Impact

The long-term loan to the company will contribute to support the development of the local securities market in Russia and assist in restoring capital market confidence and stability.

The project is in line with the transition impact objectives of the EBRD to support competition and market expansion, develop capital markets, as well as to support partners that have demonstrated successful restructuring during the crisis.

The Client

Troika Dialog Group (“the Group”) is a leading Russian investment banking firm providing trading, brokerage activities, corporate finance, asset management and investment banking services in Russian Federation and the CIS. The Group has been a close partner of the EBRD since 2006.

The Group has recently cemented a strategic alliance with South Africa’s Standard Bank, which has agreed to acquire a 33%-stake in the Group upon receipt of regulatory approvals.

EBRD Finance

Long-term senior loan of up to USD 150 million.

Project Cost

Up to USD 150 million.

Environmental Impact

Screened FI under 2008 Environmental and Social Policy. Due diligence has reviewed the capacity of the Troika Dialog Group to effectively adopt and implement PR2 requirements and found that it is satisfactory.

The Group, an existing client, will be required to comply with the Bank's Performance Requirements 2 (Labour and Working Conditions) and 9 (Financial Intermediaries) which include implementation of the Bank's Environmental and Social Procedures for Corporate Lending across the full range of its business activities and adherence to EBRD's Environmental and Social Exclusion and Referral Lists. The Client will submit to the Bank its annual reports on environmental and social matters and the implementation of PRs 2 and 9.

Technical Cooperation

None.

Company Contact

Richard Ogdon
Chief Financial & Risk Officer
Troika Dialog
E-Mail: Richard_Ogdon@troika.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.