EBRD invests €38.2 million in Croatia’s Bosqar Invest

• EBRD participates in €143.2 million dual-tranche sustainability-linked bond (SLB) issuance by Bosqar Invest
• Bond is the largest corporate SLB issued in Croatia by a non-banking, non-state-owned company
• SLB proceeds will support strategic acquisitions

The European Bank for Reconstruction and Development (EBRD) has invested €38.2 million in Bosqar Invest through a private placement as part of a landmark €143.2 million dual-tranche sustainability-linked bond (SLB) issue. The transaction is the largest corporate SLB issued by a private, non-banking entity in Croatian history.

The total financing package includes €105.0 million in public SLB issuance and the €38.2 million EBRD private placement. The public tranche is set to be listed on the Zagreb Stock Exchange, while the EBRD private placement will be unlisted.

As part of the SLB issuance, Bosqar Invest will commit to environmental key performance indicators (KPIs) and a sustainability performance target (SPT) structured solely around climate action. The bond has been confirmed as being aligned with the International Capital Market Association’s Sustainability-Linked Bond Principles through a second-party opinion from Sustainalytics.

The proceeds of both the public and private tranches of the SLB will be used to support Bosqar Invest’s strategic merger and acquisition activity and for general corporate purposes across its diversified portfolio.

Bosqar Invest is publicly listed on the Zagreb Stock Exchange and encompasses companies operating in 21 countries, with diversified operations in food, business process and technology outsourcing, human resources and other sectors.

The investment builds on a longstanding strategic partnership between the EBRD and Bosqar Invest, which has mobilised over €100 million in equity and bond financing to date.

The EBRD has invested more than €4.8 billion in 254 projects in Croatia since it started operating there. The Bank’s focus is on supporting efforts to accelerate the reform process, leveraging the benefits of European Union accession to advance transition, and restructuring and commercialising public-sector enterprises.