Promsvyazbank Syndicated Loan II

Location:

Russia

Project number:

41197

Business sector:

Notice type:

Private

Environmental category:

FI

Target board date:

21 Apr 2010

Status:

Completed

PSD disclosed:

05 Mar 2010

Translated version of this PSD: Russian

Project Description

The EBRD is considering a Senior Syndicated Loan to Promsvyazbank (PSB) in the aggregate amount of approximately USD 250 million under an A/B loan structure for general corporate purposes (incl. trade finance transactions) (“the Project”).

Transition Impact

The transition impact of the Project is expected to be achieved in the following main areas:

  • Financial intermediation and support of real economy via a systemic national bank. The project is aimed at strengthening PSB’s lending capacity in the current environment and diversifying its funding base.
     
  • Supporting the recovery of the Russian syndicated loan market which was affected by the financial crisis. The proposed syndicated loan would be one of the first such transactions for a private Russian bank since the beginning of the crisis, sending an important positive signal to the markets and contributing to their recovery.

 

The Client

Promsvyazbank is the 10th largest bank in Russia and the second largest locally owned private universal bank with a network covering over 90 Russian cities. The bank is owned by local shareholders Messrs. Alexey and Dmitry Ananiev owning PromsvyazCapital B.V. (72.93% in total), Commerzbank Auslandsbanken Holding AG, Germany (15.32%) and EBRD (11.75%).

EBRD Finance

The loan will be for the total amount of approximately USD 250 million and will be provided under A/B structure, including:

  • A portion for the account of EBRD of up to USD 100 million and
  • B portion of approximately USD 150 million for the account of commercial participants in the international market.

Project Cost

Approximately USD 250 million.

Environmental Impact

The project has been categorised FI in accordance with 2008 Environmental and Social Policy. The Client's business and operations will be required to meet EBRD's Performance Requirements 2 (Labour and Working Conditions) and PR9 (Financial Intermediaries). This includes adherence to the EBRD's Environmental and Social Exclusion and Referral lists, implementation of the relevant EBRD's Environmental and Social Procedures from the e-Manual and submission of annual environmental and social reports to the EBRD.

Technical Cooperation

None.

Company Contact

Anna Belyaeva
Financial Institutions and International Capital Markets
Tel: +7 (495) 221 36 96
E-mail: belyaeva@psbank.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.