Eurasian Development Bank and TransFin-M sign a framework agreement on a revolving credit line
Almaty, 28 June 2017. Eurasian Development Bank (EDB) and TransFin-M have signed a framework agreement on a a US $9 million revolving credit for 5 years. The signatories were Dmitry Ladikov-Roev, Managing Director for Assets and Liabilities at EDB, and Dmitry Zotov, General Director of TransFin-M.
Under the agreement, 100 percent of the loan proceeds will be used to finance TransFin-M’s contracts related to purchases of machinery and equipment manufactured in EDB member states to be then utilised by the company in its leasing activities. The financing can be extended in US dollars, Euros, Russian roubles, or another local currency of EDB member states.
If implemented, this agreement will facilitate deeper integration within the Eurasian Economic Union and stronger economic ties between entities from EDB member states.
Additional Information:
Eurasian Development Bank (EDB) is an international financial institution founded by Russia and Kazakhstan in January 2006 with the mission to facilitate the development of market economies, sustainable economic growth, and the expansion of mutual trade and other economic ties in its member states. EDB's charter capital totals US $7 billion. The member states of the Bank are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation, and the Republic of Tajikistan.
TransFin-M is one of the leading companies in Russia’s leasing market. It was founded in 2005 by Blagosostoyanie Pension Fund, one of the largest Russian non-governmental pension funds.
In 2016, the company’s new business, measured by the size of its leasing contracts, amounted to RUB 46.9 billion, while its total leasing portfolio exceeded RUB 277 billion.
Today, TransFin-M’s fleet includes over 58,000 freight cars and 131 passenger ones. Standard & Poor’s Ratings Services assigned its “B” international credit rating to TransFin-M, the outlook is “stable”.
EDB Media Center:
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e-mail: pressa@eabr.org