According to EIB website, the project is the provision of €100 million in a senior note facility as part of a €1.32 billion financing package to restructure the balance sheet of Budapest Airport Kft. The funds will be used to amend and extend existing debt facilities maturing at the end of 2019 and 2020. The new financing package will be split into a banking tranche of €795 million and an institutional investor tranche of €525 million. EBRD will participate in the institutional investor tranche for €100 million. It will support Budapest Airport Kft in its efforts to raise long-term capital from non-banking debt providers (e.g. pension and insurance companies), most of which would invest into Hungarian infrastructure debt securities for the first time.
The project supports the development of a PPP secondary capital market which attracts institutional investors. A successful institutional tranche placement will have a significant demonstration effect in the market. As such, the Bank's participation will help Budapest Airport to extend the maturity of its existing debt and will also act as a catalyst for attracting international institutional investors.
Project Contact: René Defize, EBRD
Email Address: DefizeR@ebrd.com
Telephone No.: +44 207 338 8377
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 firstname.lastname@example.org 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.