PKP Cargo Rail (EBRD-47951)

Countries
  • Poland
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Completed
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Dec 16, 2015
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
PKP Cargo S.A.
The holder of the loan, grant, or other investment.
Sectors
  • Finance
  • Transport
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 107.42 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 100,000,000
Converted using 2016-01-05 exchange rate.
Project Cost (USD)
$ 169.72 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported EUR 158,000,000
Converted using 2016-01-05 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Aug 10, 2017

Disclosed by Bank Jan 5, 2016


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Project Description
This project finances PKP Cargo S.A. to refinance the acquisition of Advanced World Transportation, the second-largest rail freight operator in the Czech Republic. Following the acquisition of AWT, PKP Cargo will develop new routes and provide comprehensive logistics and transportation services in an extended transportation corridor.
Investment Description
  • European Bank for Reconstruction and Development (EBRD)
PKP CARGO S.A is Poland's largest, and Europe's second largest railway freight transport operator. The Company was initially privatised in October 2013, with a secondary public offering taking place in 2014 and is currently 67 per cent owned by private investors while 33 per cent remains owned by PKP S.A., which is in turn owned by the Polish Treasury.
Contact Information
Contact Name: Media Office Telephone: +48 663 290 777 Website: pkp-cargo.com Email: media@pkp-cargo.eu Fax: +48 22 474 28 19 Postal Address: ul. Grójecka 17, 02-021 Warsaw, Poland ACCOUNTABILITY MECHANISM OF EBRD The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD’s own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at pcm@ebrd.com or you can submit a complaint online using an online form, http://www.ebrd.com/eform/pcm/complaint_form?language=en. You can learn more about the PCM and how to file a complaint at http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html.