Baltics CP: Maxima (EBRD-52675)

Countries
  • Lithuania
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
Active
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
Mar 10, 2021
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
MAXIMA GRUPE UAB
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)
$ 5,033.07 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 4,200,000.00
Converted using 2021-03-17 exchange rate.
Project Cost (USD)
$ 47,933.99 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 40,000,000.00
Converted using 2021-03-17 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS May 20, 2021

Disclosed by Bank Mar 17, 2021


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Project Description

According to the bank website, the Bank has invested EUR 4.2m in the commercial paper ("CP") issuance by the leading Baltic retailer Maxima Grupe UAB . The size of the issuance is EUR 40m and the CP has a maturity of 12 months. The CP will be used to finance the issuer's working capital needs. The Bank's presence is expected to provide confidence to investors by supporting the first-ever CP issuance in the Baltic States and supporting a successful first CP issuance by the company.

 

Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Contact Information

Project contacts not available at the time of disclosure.

 

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