Investment Troika Dialog Group Senior Loan

Location:

Russia

Project number:

39913

Business sector:

Non-depository Credit (non bank)

Notice type:

Private

Environmental category:

FI

Approval 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

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (e.g. through the Client’s Project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).

IPAM independently reviews Project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the Mechanism is: to support dialogue between Project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or Project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.

Please visit the Independent Project Accountability Mechanism webpage to find out how to submit a Request for review through our confidential online form, by email, mail or telephone. IPAM is available to discuss your concerns and answer any questions you may have about the submission or handling of Requests, which follow the Project Accountability Policy and Guidance. Requestors’ identities may be kept confidential, upon request.

Share this page: