Can-Pack SA Bond Increase (EBRD-49489)

Countries
  • Poland
  • Romania
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
Sep 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
Can-Pack S.A.
The holder of the loan, grant, or other investment.
Sectors
  • Agriculture and Forestry
  • 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)
$ 46.38 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 40 million
Converted using 2017-11-08 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Nov 22, 2017

Disclosed by Bank Nov 8, 2017


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Project Description
This project finances the capacity upgrade of Can-Pack's existing facilities in Romania, as well as further investments into a recycling program in Poland.
Investment Description
  • European Bank for Reconstruction and Development (EBRD)
This project is an investment in unsecured corporate bonds with 7-years' maturity, issued by Can-Pack.
Private Actors
Can-Pack S.A. is a private joint-stock company, headquartered in Krakow, Poland. Can-Pack S.A.is a parent company of Can Pack Group, which consists of companies located in 17 countries and of two foreign branches (in Finland and in Romania). Can-Pack S.A. is one of the leading producers of packaging, including aluminium and steel cans and can ends, metal closures, as well as glass packaging.
Contact Information
Wojciech Nawrot canpack@canpack.eu +48 12 662 34 03 +48 12 662 34 19 www.canpack.eu 1 Jasnogórska Str., 31-358 Kraków, 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.