As stated on the EBRD's website, the EBRD invested CZK 1.323 billion (EUR 53.5 million equivalent or 22% of the issuance amount) in a Senior Non-Preferred bond issued by Ceska sporitelna, as part of a local issuance of CZK 6 billion, which will be listed on the Prague Stock Exchange. This Bond is eligible to meet the regulatory minimum requirements for own funds and eligible liabilities. The Bond has a maturity of 5 years, with a call option after 4 years.
The Project supports a green economic recovery in the Czech Republic and the resilience of a systemically important bank in Czech Republic, and contributes to the local capital market development. The Project also aims to support strong Green-impact targets with at least 120% of the EBRD's investment to be allocated to finance green projects in line with EBRD's Green Economy Transition eligibility criteria.
As stated by the EBRD, Ceska sporitelna is the second largest bank in the Czech Republic with 19% market share by total assets as of end 2021, and is classified as other systematically important institution (O-SII) in the Czech Republic. Ceska sporitelna is a wholly owned subsidiary of Erste Group Bank AG. It is rated A (stable) by Fitch, A1 (stable) by Moody's, and A (positive) by S&P.
|Private Actor 1||Private Actor 1 Role||Private Actor 1 Sector||Relation||Private Actor 2||Private Actor 2 Role||Private Actor 2 Sector|
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Client - Ceska Sporitelna AS:
Phone: 800207207 (from Czech Republic) / +420956777901 (from abroad)
Address: Ceska sporitelna, a.s., Budejovicka 1518/13a,b, Praha 4, 140 00, Czech Republic
ACCESS TO INFORMATION
You can request information by emailing: email@example.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: firstname.lastname@example.org 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