Investment Troika Dialog Group Senior Loan

complete

The EBRD has approved a loan of up to USD 150 million to Investment Company Troika Dialog. The loan will be used to: i) support the company to meet its working capital needs for trading and brokerage activities on Russian capital markets; and ii) reduce the company’s dependency on short-term funding and stabilize its funding base. The long-term loan to the company will contribute to support the development of the local securities market in Russia and assist in restoring capital market confidence and stability. The project is in line with the transition impact objectives of the EBRD to support competition and market expansion, develop capital markets, as well as to support partners that have demonstrated successful restructuring during the crisis. Troika Dialog Group (“the Group”) is a leading Russian investment banking firm providing trading, brokerage activities, corporate finance, asset management and investment banking services in Russian Federation and the CIS. The Group has been a close partner of the EBRD since 2006. The Group has recently cemented a strategic alliance with South Africa’s Standard Bank, which has agreed to acquire a 33%-stake in the Group upon receipt of regulatory approvals. Long-term senior loan of up to USD 150 million. Up to USD 150 million. Screened FI under 2008 Environmental and Social Policy. Due diligence has reviewed the capacity of the Troika Dialog Group to effectively adopt and implement PR2 requirements and found that it is satisfactory. The Group, an existing client, will be required to comply with the Bank's Performance Requirements 2 (Labour and Working Conditions) and 9 (Financial Intermediaries) which include implementation of the Bank's Environmental and Social Procedures for Corporate Lending across the full range of its business activities and adherence to EBRD's Environmental and Social Exclusion and Referral Lists. The Client will submit to the Bank its annual reports on environmental and social matters and the implementation of PRs 2 and 9. None. Richard Ogdon Chief Financial & Risk Officer Troika Dialog E-Mail: Richard_Ogdon@troika.ru