Project description
and objectives:
|
The EBRD is considering a USD 40 mn 5 year loan to OAO Concern Kalina structured in two tranches of USD 30 mn and USD 10 mn. The financing will be aimed at securing sustainable development of the client’s operations in times of the uncertainty in the credit markets and will be used for optimising the client’s debt structure and achieve balance sheet consolidation as well as to cover working capital and other operational needs to sustain the market position and penetrate new regional segments in Russia.
|
Transition impact:
|
The proposed transaction is aimed at supporting a market player which drives improvements in market functioning, competition, corporate governance and transparency standards and provides benchmarks for global best practice in operations and customer orientation. The Bank’s support to Kalina in the current crisis environment will reinforce transition achievements of earlier transactions.
The proposed transaction will support introduction of new ERP system in the company to further streamline and improve production operations, distribution and sales management. It will also promote the company’s work in the regional markets through the introduction of modern trade techniques and improve the availability of quality products for consumers in the regions.
|
The client:
|
OAO Concern Kalina, Russia’s leading cosmetics producer and a public company. The Bank has successfully completed two projects with the client in the past.
|
EBRD finance:
|
USD 10 million tranche out of USD 40 mn loan.
|
Total project cost:
|
USD 40 million.
|
Environmental impact:
|
Screened B according to 2008 environmental and social policy. The proposed working capital loan will not result in capacity increase or significant changers to the existing operations. The due diligence confirmed that the Company's HR practices and EHS management procedures are in accordance with the EBRD's Performance Requirements. Provisions for Annual Environmental Reports, incident notification requirements and monitoring visits will be incorporated into the legal documents.
|
Technical
cooperation:
|
None.
For consultant opportunities for projects financed by technical cooperation
funds, visit procurement
of consultants.
|
Company contact:
|
Dmitry Argunov, Head of Corporate Finance Department
OAO Concern Kalina
тел. (343) 262-26-85, 262-09-86;
факс (343) 365-83-00, 262-22-32;
E-mail: cfininet@kalina.org
|
EBRD contact:
|
Oksana Lonshakova, Operation Leader: lonshako@ebrd.com
|
Business opportunities:
|
For business opportunities or procurement, contact the client company.
|
General enquiries:
|
EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168; Fax: +44 20 7338 7380
Email: projectenquiries@ebrd.com
|
Public Information
Policy (PIP):
|
The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations.
Text of the PIP
|
Independent Recourse
Mechanism (IRM):
|
The EBRD has established the IRM to give local groups that may be directly and adversely affected by a Bank project a means of raising complaints or grievances with the Bank, independently from banking operations.
Guidelines for Making a complaint and the Rules of procedures
|
