KGHM PLN Bonds (EBRD-51062)

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 19, 2019
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
KGHM POLSKA MIEDZ SA
The holder of the loan, grant, or other investment.
Sectors
  • Energy
  • Finance
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)
$ 105.57 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 400
Converted using 2019-07-19 exchange rate.
Project Cost (USD)
$ 527.84 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 2000
Converted using 2019-07-19 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Jul 21, 2019

Disclosed by Bank Jul 19, 2019


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Project Description

According to the Bank's website, this project provides financing to KGHM Polska Miedz SA to finance projects which will result in improved energy efficiency and reduced CO2 emissions. 

Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Private Actors

KGHM Polska Miedz S.A., incorporated in Poland, is a parent company of the KGHM Group which is one of the largest copper producers in the world involved in exploration, mining and processing. KGHM was established in 1957 with the discovery of one of the world's largest deposits of polymetallic ores in Poland. KGHM is listed on the Warsaw Stock Exchange since 1997.

KGHM is one of the biggest companies in Poland and the only copper producer in Poland, with domestic market accounting for 26% of the Group's revenue followed by China, Germany and UK.

KGHM Polska Miedz SA is a public company incorporated in Poland. 

Contact Information

Piotr Paszko
piotr.paszko@kghm.com
+48 76 7478 142
https://kghm.com/en

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.