Mytilineos Eurobond

Location:

Greece

Project number:

51483

Business sector:

Manufacturing and Services

Notice type:

Private

Environmental category:

B

Approval date:

30 Oct 2019

Status:

Signed

PSD disclosed:

04 Dec 2019

Translated version of this PSD: Greek

Project Description

The EBRD subscribed to the amount of EUR 45 million to the EUR 500 million senior unsecured Eurobond maturing in December 2024 issued by Mytilineos Financial Partners S.A. and guaranteed by Mytilineos S.A (the "Company" or "Mytilineos").

Project Objectives

Part of the Bank's proceeds will be used to finance the increase of Mytilineos' secondary aluminium production.

Transition Impact

The transaction is expected to support capital markets and Green Economy Transition.

Client Information

MYTILINEOS FINANCIAL PARTNERS SA

Mytilineos is a Greek diversified industrial group active in the sectors of aluminium, energy and construction. The Group was founded in 1908 as a metallurgical family business and since 1995 has been listed on Athens Stock Exchange.

EBRD Finance Summary

EUR 45,000,000.00

Subscription to a Eurobond in the amount of EUR 45 million.

Total Project Cost

EUR 500,000,000.00

Environmental and Social Summary

Categorised B (2014 ESP). The Environmental and Social Due Diligence (ESDD) was undertaken by ESD specialists based on a review of publicly available information and a meeting with relevant specialists of the Company in Greece. The ESDD focussed on a corporate-level review of Mytilineos Group's management systems, sustainability strategy, policies and operations and its current compliance status across its Business Units: the aluminium, power and EPC as well as the aluminium recycling operations. The ESDD confirmed that the Company demonstrates good environmental and social governance standards and good international practices in environmental and social sustainability. The Company has the capacity to implement the Bank's Performance Requirements (PRs) and is currently in compliance with National and EU environmental laws and regulations. The Company operates three gas fired power plants (of total installed capacity of 1.2GW) and a number of renewable projects (mainly wind, with total installed capacity of around 200MW) and is the sole vertically integrated alumina and aluminium producer in SEE with own mining and port facilities.

The ESDD showed that the Company has a proactive and comprehensive corporate Environmental, Social and Governance strategy, encompassing social and environmental performance, employment, health and safety, biodiversity, socio-economic impacts and community relations and it has a strong commitment to implementing good international environmental and social industry practices throughout its operations. Mytilineos plants operate in compliance with EU environmental standards, including Best Available Techniques ("BAT") as defined under the Industrial Emission Directive ("IED"). The Company is actively involved in defining the BAT for the Aluminium industry in Europe. Based on the ESDD, the previous corporate ESAP has been updated and agreed with the Company aiming at further strengthening the Company's' existing ESG factors and CSR practices and procedures and continued certification to international standards.  

Technical Cooperation

None.

Company Contact Information

Investors Relations
ir@mytilineos.gr
+30 210-6877300 +30 210-6877436
+30 210-6877400
http://www.mytilineos.gr/
8 Artemidos Str.,Maroussi, 15125 Athens

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

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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

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