MDM-bank (MDM) is planning to raise a senior A/B loan of USD 225 million, of which USD 75 million (A loan) will be the EBRD portion and USD 150 million (B loan) will be syndicated to commercial banks.
The project aims to support the bank in refocusing its business towards retail banking and private sector Micro, Small and Medium Size Enterprises (MSME). It will assist MDM in raising a syndicated loan of longer maturity than achieved to date by the bank.
- The proposed project will promote financial intermediation in Russia by using the broad regional network of MDM to reach Russian MSME and retail customers with longer tenor funding.
- The proposed project is expected to foster competition in the banking sector by giving borrowers in different regions across Russia greater choice in accessing banking products which best fit their needs.
- EBRD’s involvement in the syndicated loan transaction will further enhance the bank’s image with its potential lenders and facilitate MDM’s access to longer-term commercial funding.
MDM is one of the leading Russian private banks, based in Moscow with an extensive regional network throughout Russia. MDM operates as a fully-fledged universal bank and provides a wide range of services to corporates and individuals.
Term Loan of USD 75 million (EUR 58 million).
USD 225 million (EUR 175 million).
MDM will be required to comply with EBRD’s Environmental Procedures for Intermediated Financing through Local Banks, including adherence to the Environmental Exclusion and Referral List, compliance with the applicable national environmental, health and safety legislation, and submission of annual environmental reports to EBRD.
Mr. Evan Boiko, Head of Investor Relations
Tel: +7 495 221 3075
Fax: +7 495 221 3076
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