A EUR 12.5 million senior loan, with a tenor up to 6 years including a 1.5 year grace period. The loan will support c. 70% of the Group's Capex plans for 2021 - 2023.
The new CAPEX plan will consolidate the market position of the Group, allowing it to acquire pharmaceutical licences and expand its pharmacies network together with the continuation of its retail outlets refurbishment program, over the 2021 - 2023 period. In the same time, it supports the further development of its wholesale business through the purchase of equipment required by the extension of its warehouse network as well as the the development of its own transport services capacity.
ETI score: 63
1. Inclusive (Primary) to support improved trainings and skills transfer for young people in Romania;
2. Well Governed (Secondary), through a comprehensive Corporate Governance Action Plan to be implemented.
Calihory Group (the "Client", the "Group") is a top tier vertically integrated pharmaceutical distribution
group active in Romania. Calihory Group is 99% owned by Dr. Banciu Eugen Marcel, a successful
Romanian entrepreneur with a long history in the pharmaceutical business dating back to 1996.
EBRD Finance Summary
Total Project Cost
The Bank is additional due to its contribution to standards setting: the Bank is supporting the client to achieve higher standards in terms of corporate governance (through the implementation of Corporate Governance Action Plan) and in terms of employees skills (through the trainning programme).
Environmental and Social Summary
Category B (ESP 2019). Medium-Low risk. The E&S impacts associated with development of the Group pharmaceutical activities, including pharmacies network expansion, purchase of new transportation fleet, IT and software can be readily identified and mitigated. The ESDD was carried out based on the E&S Questionnaire and support materials review, as well as results of the waste management audit carried out by an independent consultant. Additional measures were incorporated into the existing ESAP with the Group to reflect E&S impacts of the new investment plan, including waste management corrective actions, requirement for EURO6 emissions standards for the new fleet, and contractor management among others. The ESAP will be agreed with the Client prior to the signing.
Technical Cooperation and Grant Financing
Company Contact Information
PSD last updated
07 May 2022
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