Credit agreement with Nordic Investment Bank
07.02.2007 17:36
MDM Bank has signed a 7-year, EUR30 mn credit agreement with Nordic
Investment Bank. Under the terms of the agreement MDM Bank can obtain funds from
Nordic Investment Bank to finance Russian investment projects in which a part of
the goods or services involved originate from Scandinavia or the Baltic states.
The funds can be used to pay for imported goods and services and also import
duties, taxes and construction costs associated with the projects.
Michel Perhirin, CEO and Chairman of the Management Board of MDM Bank
commented: “This agreement with Nordic Investment Bank will allow MDM Bank to
provide new, long-term financing products to corporate clients that have
business ties with the Scandinavian and Baltic countries”.
Mr.
Michel Perhirin, CEO and Chairman of the Management Board of MDM Bank, and
Mr. Nils E. Emilsson, Executive
Vice President and Head of Lending, Nordic Investment Bank (left) on the solemn
ceremony of signing of the credit agreement held in MDM Bank.
MDM
Bank was
founded in December 1993 and holds a General Banking License issued by the
Central Bank of
Russia
(#2361 dated 13 February
2003). It is one of the most profitable banks in
Russia
. Today,
MDM Bank is a
modern universal financial institution offering a full range of services to its
clients. MDM has split-highest credit ratings among privately-owned Russian
banks: Standard & Poor’s (BB-, stable), Fitch Ratings (BB-, positive) and Moody’s (Ba2), and is
the only Russian financial organization that has been given a public corporate
governance rating by Standard & Poor’s (6+).
The magazine Global Finance named
MDM
Bank “Best
Domestic Bank” in 2005 and has also awarded it the “Editor’s Special Award for
Transparency.” Global Finance named
MDM Bank the
Best Bank in Russia in four Categories for 2006:
Best Forex Bank, Best Domestic Bank, Best Domestic M&A Arranger, and Best
Bank in Corporate Governance. MDM Bank achieved the top ranking in the Standard and Poor’s
Transparency and Disclosure Survey by Russian Banks in
2006.
Inquiries:
Evan Boiko +7
495 221 30 75
PR Department +7 495 363 27 41
Head of Investor Relations
MDM
Bank
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Press Release
Credit agreement with Nordic Investment Bank
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09.03.2007 09:24