MOSCOW, August 21 (RIA Novosti) - Russia's MDM Bank is to receive a $225 million syndicated loan from the European Bank for Reconstruction and Development and several commercial banks, EBRD said Monday.
Under a plan approved by the EBRD credit department, EBRD will provide $75 mln in credit, while a syndicate of commercial banks will provide the remaining $150 mln.
The loan will have a longer term than credit previously received by MDM bank, EBRD said.
MDM Bank, which provides financial services at several hundred branches nationwide, holds among the highest credit ratings for a Russian bank, with a rating of B+ from Standard & Poor's, BB- from Fitch, and Ba2 from Moody's.
The bank will use the syndicated loan to reorient its work towards private customers, and with small- and medium-sized businesses, EBRD said.
