Tele-Fonika Kable S.A. (EBRD-48731)

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
Approved
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
Jun 20, 2017
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
TELE-FONIKA KABLE SA
The holder of the loan, grant, or other investment.
Sectors
  • Industry and Trade
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)
$ 75.94 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 PLN 289.6
Converted using 2017-06-20 exchange rate.
Loan Amount (USD)
$ 75.94 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 289.6
Converted using 2017-06-20 exchange rate.
Project Cost (USD)
$ 469.91 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 PLN 1,792.00
Converted using 2017-06-20 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Feb 23, 2018

Disclosed by Bank Jul 21, 2017


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Project Description

According to EBRD website, the project is a provision of a senior secured loan to TELE-FONIKA Kable S.A., the largest cable and wire producer in Central and Eastern Europe with headquarters in Poland. The loan will be used for the refinancing of the existing debt and for the financing of planned investments in innovative cable solutions and related R&D. It shall enable further implementation of the operational strategy to develop innovative solutions for the cables market.

Further, it is expected to reinforce the transition objectives set under the existing operation signed in 2015 as well as achieve new, more ambitious benchmarks stemming from demonstration of replicable behaviour and corporate governance improvements. The expected transition impact of the Project comes from the continuation of the first project's comprehensive balance sheet strengthening needed to further implement the operational strategy based on developing innovative solutions for the cables market. Successful transformation would have a strong demonstration effect to the whole mid-to-large business landscape on the Polish and foreign markets.

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

General enquiries to EBRD: 
Telephone No.: +44 20 7338 7168
Email Address: projectenquiries@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.