Translated version of this PSD: Slovenian
Project Description
Investment in the inaugural debt capital market issuance of Pozavarovalnica Sava, d.d. ("Sava") in the form of EUR-denominated, Solvency II compliant, Tier II eligible subordinated bonds ("bonds") with a 20-year non-call 10 ("20NC10") maturity profile. The bonds are rated BBB+ by S&P and will be listed on the Luxembourg Stock Exchange.
Project Objectives
The operation will enable Sava to boost its capital base.
Transition Impact
The main sources of transition impact will stem from supporting capital market development by demonstrating the viability of a Slovenian Solvency II subordinated bond issue and broadening its investor base. The project will diversify Sava's funding sources and better position it for future growth.
Client Information
POZAVAROVALNICA SAVA DD
Pozavarovalnica Sava, d.d. is the holding company of the Sava Insurance Group, which is the third largest insurance group in the Adriatic region with a presence in 6 countries. The group has total assets of EUR 1.8bn and shareholder's equity of EUR 360 million. Sava is listed on the Ljubljana Stock Exchange with a market capitalisation of EUR 290 million and has an assigned long-term financial strength and issuer credit rating of A, by both S&P and AM Best.
EBRD Finance Summary
EUR 10,000,000.00
Total Project Cost
EUR 75,000,000.00
Environmental and Social Summary
Categorised FI (ESP 2014). Sava is required to comply with EBRD's Performance Requirements 2, 4 and 9, implement EBRD's E&S risk management procedure for insurance and submit Annual E&S Reports to the Bank.
Technical Cooperation
None.
Company Contact Information
Bla# Garbajs
subordinated@sava-re.si
+386 1 4750 252
https://www.sava-re.si/
Pozavarovalnica Sava, d.d., Dunajska 56, 1001 Ljubljana, Slovenia
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
