|
|
|
|
 |
|
 |
 |
|
|
|
|
|
|
| 1/14/2010 |
| EBRD to provide Renaissance Capital with 100 mln euro loan |
Moscow, 14 January 2010 – Renaissance Capital is pleased to announce that it has received approvals from the European Bank for Reconstruction and Development (EBRD) for a 100 mln euro loan for the period of three and a half years.
On 12 January 2010 the Board of the European Bank for Reconstruction and Development approved the loan. The final loan agreement is expected to be signed by Renaissance Capital and EBRD in the next few weeks. The EBRD funding will then be disbursed to Renaissance Capital in two tranches at a one-month interval, starting immediately after the signing. The EBRD loan will be used to support the liquidity for securities issued by second tier Russian companies and thereby to increase those companies’ access to the capital markets.
Alexander Pertsovsky, CEO of Renaissance Capital, said: “It’s difficult to overestimate the good timing and the importance of the EBRD loan against the backdrop of insufficient liquidity for 2nd tier securities. This financing will help Renaissance Capital contribute to the recovery of Russian capital markets beyond the “Gazproms” of this world. We are pleased to have the EBRD’s trust to act as a key player in this strategic initiative to broaden and deepen Russia’s capital markets.”
About Renaissance Capital (www.rencap.com)
Renaissance Capital is a leading investment banking firm in Russia, Central Asia, Eastern Europe and Africa. Renaissance Capital has market-leading positions in each of its core businesses - M&A, equity and debt capital markets, securities sales and trading, research, and derivatives. Renaissance Capital is part of the Renaissance Group (www.renaissancegroup.com).
About EBRD (www.ebrd.com)
The EBRD, owned by 61 countries and two intergovernmental institutions, is supporting the development of market economies and democracies in countries from central Europe to central Asia.
|
|
|
|
