Translated version of this PSD: Polish
Project description and objectives
EBRD is supporting innovation in Poland’s chemical sector by investing €50 million in Synthos S.A.’s tap offering of 4.00% Senior Notes due 2021.
Proceeds from the EBRD’s investment will support capital expenditures of Synthos including the construction of the rubber production facility (styrene-butadiene rubber and poly-butadiene rubber), with a capacity of 90,000 tonnes per year, adjacent to premises of Synthos rubber plant in Poland, as well as research and development (R&D) activities of Synthos.
The EBRD’s investment helps to address one of the biggest challenges in the Polish economy, namely the low level of innovation and R&D investments among local companies. The financing will support the construction of a new production facility which will introduce the most modern synthetic rubber production technology in Poland. The investment is also expected to benefit manufacturers, among them global market leaders, with production lines close to Synthos’ site.
The financing will be also pivotal in closing the R&D gap between corporations and leading academic centres by supporting the recently established R&D centre at Synthos. Key strategic areas of the centre include synthetic rubber, expandable polystyrene plastics and dispersions/adhesives. Synthos is working closely with reputable universities and institutions in Poland and abroad as well as maintaining close relationships with major customers.
Synthos with over 2,200 employees is one of the leading manufacturers of chemical materials in central and eastern Europe and the leading producer of synthetic rubber, the fourth largest producer of polystyrene in Europe and the leading producer of expandable and extruded polystyrene in Europe.
Synthos is listed on the Warsaw Stock Exchange with a market cap of PLN 5.7 billion (ca €1.4 billion) and is a member of the WIG20 blue chip index.
Notes subscription of €50 million.
Environmental and social categorisation, impact, and mitigation
Categorised B. This is a capital market transaction with a listed company, and the EBRD's Environmental and Social Due Diligence (“ESDD”) was limited to the information made available in the Offering Memorandum dated 24 September 2014 and the annual report for the year ended 31 December2014.
Nevertheless, the Bank was able to undertake adequate ESDD and this has confirmed that the company has the institutional capacity to fully implement the Bank’s Performance Requirements (PRs). The company is well managed and the current operations, as well as planned investment projects, are structured to comply with the Bank's PRs and national legislation.
In connection with the EBRD investment, Synthos will undertake certain additional commitments in terms of strengthening its corporate environmental, health and safety management systems.
The Bank will monitor the implementation of the project.
Name: Agata Koscielnik.
Position: Manager, Corporate Communication.
Tel: +48 33 847 3203.
For business opportunities or procurement, contact the client company.
EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Public Information Policy (PIP)
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Text of the PIP