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

Press Release
Credit agreement with Nordic Investment Bank
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09.03.2007 09:24

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