DFF - Altex Romania (EBRD-50906)

Countries
  • Romania
Where the impacts of the investment may be experienced.
Specific Location
Bucharest
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
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 15, 2020
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
ALTEX ROMANIA SRL
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)
$ 14.49 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 12
Converted using 2021-01-18 exchange rate.
Project Cost (USD)
$ 20.53 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 17
Converted using 2021-01-18 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Jan 18, 2021

Disclosed by Bank Oct 1, 2020


Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description

A senior loan in the amount of EUR 12 million, 8 years tenor, 1 year grace period, fully amortizing loan, to finance up to 70.5% of the cost of a logistic centre to be located near Bucharest. The loan will finance and/or refinance the construction of a greenfield logistic centre with a total foot print area of approximately 37,144 sqm, located in Dragomiresti Vale.

The implementation of the project will replace part of the existing rented warehouses and support expansion of the business, especially on the online segment. The borrower will cover minimum of 29.5% of the investment project budget from its own funds.

 

Investment Description

Contact Information

ACCESS TO INFORMATION

You can request information by emailing: accessinfo@ebrd.com or by using this electronic form: https://www.ebrd.com/eform/information-request

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 at: 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