Project description
and objectives:
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A US$ 220 million Framework Finance Facility (the Facility) for IMB Russia will be created to facilitate EBRD future financing to IMB to support the bank’s growth and the development of its medium term lending activities directed in particular to Russian corporate customers, SMEs and the retail segment. The financing will be provided primarily in a form of senior loans, but subordinated debt as well as contributions to IMB’s share capital may also be considered. The Facility will also allow direct financing to IMB’s leasing operation.
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Sub-projects:
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- International Moscow Bank - the Syndicated Loan
- International Moscow Bank - Subordinated Loan
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Transition impact:
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The Facility and the sub-projects to be executed under it will promote the financial intermediation in Russia and increase the availability of long term financing in the real sector. The Facility will also support the business expansion of a bank that is following high business standards and corporate governance principles in its business, providing a good demonstration effect for the other market participants in terms of good corporate conduct.
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The client:
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International Moscow Bank (IMB) was founded in 1989 and has established itself as one of the leading private banks. Traditionally IMB has focused on corporate banking servicing - primarily large Russian companies and multinationals, but is now expanding its target client base to cover also small and medium sized enterprises and retail clients.
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EBRD finance:
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The total value of the Facility accounts for US$ 220 million and will be primarily utilised to facilitate EBRD’s future debt financing to IMB including both senior and subordinated loans. Part of the Facility may also be used for minor equity investments to IMB’s capital in relation to potential restructuring of the bank’s shareholding structure. (EBRD has currently a 10% shareholding in IMB)
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Total project cost:
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US$ 220 million.
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Environmental impact:
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IMB will be required to comply with EBRD’s Environmental Procedures for Intermediated Financing through Local Banks and EBRD’s Environmental Procedures for Leasing, including compliance with the Environmental Exclusion List, adherence to the applicable national environmental, health and safety regulations and submission of annual environmental, health and safety reports to the Bank.
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Technical
cooperation:
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None.
For consultant opportunities for projects financed by technical cooperation
funds, visit procurement
of consultants.
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Company contact:
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ZAO “International Moscow Bank”
Prechistenskaya nab., 9,
Moscow, Russian Federation 119034
Tel. (+7 095) 258-72-00
Fax. (+7 095) 258-72-72
E-mail. imbank@imbank.ru
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EBRD contact:
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Viktor Marchenko, Operation Leader: marchenv@ebrd.com
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Business opportunities:
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For business opportunities or procurement, contact the client company.
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General enquiries:
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EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168; Fax: +44 20 7338 7380
Email: projectenquiries@ebrd.com
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