Slovakian Covered Bonds Framework (EBRD-48618)

Countries
  • Slovakia
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
Approved
Bank Risk Rating
FI
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 14, 2016
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
Slovak Republic
The holder of the loan, grant, or other investment.
Sectors
  • Finance
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)
$ 210.27 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 200 million
Converted using 2016-12-14 exchange rate.
Loan Amount (USD)
$ 210.27 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 200 million
Converted using 2016-12-14 exchange rate.
Project Cost (USD)
$ 1,051.36 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 1,000,000,000.00
Converted using 2016-12-14 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Feb 23, 2018

Disclosed by Bank Feb 13, 2017


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Project Description

According to EBRD website, the sub-projects will support Issuers to access medium-term funding by using a covered bond instrument collateralised by a pool of residential mortgage loans. The proceeds from the Sub-projects will be used to (i) restructure their balance sheet (address asset-liability maturity mismatches for existing and new assets), (ii) diversify funding sources and (iii) finance mortgage loans. 

Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Contact Information

Project Contact: Andreea Moraru, EBRD
Email Address: morarua@ebrd.com
Telephone No.: 00442073386718, 00442073386119
Website: www.ebrd.com

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.