VUB Covered Bonds (EBRD-48859)

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
VSEOBECNA UVEROVA BANKA (VUB) AS
The holder of the loan, grant, or other investment.
Sectors
  • Agriculture and Forestry
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 84.20 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 80,000,000.00
Converted using 2016-12-14 exchange rate.
Project Cost (USD)
$ 789.42 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 750,000,000.00
Converted using 2016-12-14 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Jun 21, 2017

Disclosed by Bank Feb 13, 2017


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Project Description
This project involves an investment of up to EUR 80 million in a series of mortgage covered bonds to be issued by Vseobecna uverova banka over a period of 2 years in Slovakia. The Project falls under the EBRD's Covered Bond Framework for Slovakia.
Investment Description
  • European Bank for Reconstruction and Development (EBRD)
VSEOBECNA UVEROVA BANKA (VUB) AS is the second largest universal bank in Slovakia with 18% market share by total assets and the second largest player in the mortgage loans market, with 20% market share.
Contact Information
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.