Translated version of this PSD: Russian
The EBRD is considering lending up to USD 50 million as part of MDM Bank’s new diversified payment rights (“DPR”) securitisation programme.
With a targeted total issuance of up to USD 150 million alongside other lenders, EBRD’s support for MDM Bank’s DPR securitisation programme will facilitate the post-crisis re-introduction of structured finance instruments to Russian issuers.
EBRD’s finance will also support further lending to the real economy via MDM Bank on-lending the EBRD proceeds to its mid-tier corporate clients in Russia.
EBRD’s participation in this transaction will support the re-introduction of structured finance products to the Russian market.
EBRD’s finance will also support mid-tier corporate lending in Russia with medium- to long-term finance currently not widely available to Russian banks.
MDM Bank is the 2nd largest privately-owned bank in Russia by equity, and the 7th, 8th and 10th largest Russian bank by retail loans, retail deposits and corporate loans, respectively. It has also been an active issuer of structured finance products in the past with DPR and auto-loan securitisation programmes.
USD 50 million loan with a five-year legal final tenor as part of a new DPR securitisation programme for MDM Bank. West LB will act as the arranger and will co-finance USD 50 million with the same tenor, while an additional USD 50 million will be sought from third party lenders.
Up to USD 150 million.
MDM Bank will be required to continue to comply with PR2 and apply PR9 to all its lending and investment activities. MDM Bank will also be required to submit annual reports on environmental and social matters and its compliance with PR 2 & 9 to the Bank.
Mr Tengiz Kaladze
Managing Director, Managing Director, Head of Syndications and Structured Finance
Tel: +7 495 745 9640
For business opportunities or procurement, contact the client company.
EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
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