Translated version of this PSD: Russian
Project Description
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.
Transition Impact
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.
The Client
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.
EBRD Finance
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.
Project Cost
Up to USD 150 million.
Environmental Impact
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.
Technical Cooperation
None.
Company Contact
Mr Tengiz Kaladze
Managing Director, Managing Director, Head of Syndications and Structured Finance
Tel: +7 495 745 9640
Email: Tengiz.Kaladze@mdmbank.com
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
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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.
