Sogelease Bulgaria Senior Debt

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Project ID 44700

Status Complete

Location

Bulgaria

Business Sector

Notice Type

Private

Project timeline

Exploratory
Passed Concept Review
Passed Structure Review
Passed Final Review
Board Approved
Signed
Implementing
Completed

Project ID 44700

Status Complete

Location

Bulgaria

Business Sector

Notice Type

Private

Environmental Category

Approval Date

29 Jan 2013

Disclosure date

16 Nov 2012

As per section 1.4.2 (iii) of the Directive on Access to Information: "For Projects approved by Bank management where the Board of Directors has delegated the approval authority, the PSD shall be disclosed at the start of the relevant no-objection notification period to a member country of the Bank in accordance with Article 13 (iii) of the Agreement Establishing the EBRD."

Translated version of this PSD: Bulgarian

Project Description

The EBRD is considering providing a senior loan to Sogelease Bulgaria in the amount of €10 million for on-lending to small and medium-sized enterprises (“SMEs”).

Transition Impact

By supporting a strong and dedicated player on the Bulgarian leasing market, the Project is expected to lead to increased volume of new leasing contracts, and maintain an essential flow of lending to enterprises at a time when the availability of credit, particularly to SMEs, has been constrained. The financial crisis has negatively affected the leasing market in CEE and some leasing companies have reduced or even curtailed operations, despite indications of continuing demand. The loan contributes to Sogelease’s strategy of diversifying its funding structure.

The Client

Sogelease Bulgaria is a part of Société Générale Group, and has a significant market position (nearly 10% of new business for the year through June 2012). As of June, Sogelease had total assets of EUR 94.2 million. Funding is provided by parent bank and European Investment Bank.

EBRD Finance

Senior loan in the amount of €10 million.

Project Cost

€10 million.

Environmental Impact

Sogelease will be required to comply with EBRD’s Environmental Performance Requirement (“PR”) 9 when making local leases, conduct its business in accordance with PR 2, adhere to the EBRD's Environmental and Social Exclusion and Referral Lists, and submit Annual Environmental and Social Reports to the Bank. Lessees will be required to comply with applicable national environmental, health and safety and labour requirements.

Technical Cooperation

None.

Transition impact

ETI Score:60

PSD last updated

01 Feb 2019

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
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. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP

Environmental and Social Documentation is not available for this project.

Selected procurement notices related to this project may be shown below. Further procurement opportunities related to this and other projects, if available, maybe be viewed in the EBRD Procurement Portal.

The EBRD's Environmental and Social Policy (ESP), Access to Information policy (AIP) and Project Accountability Policy (PAP) enable sound and sustainable development in its projects. The Independent Project Accountability Mechanism (IPAM) deals with complaints about environmental, social and disclosure matters related to the Bank’s investments.

No complaints about this project have been made so far.

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