Project Description
The EBRD is considering providing a €10 million senior loan to EuroLease Auto Bulgaria for on-lending to SMEs as part of the Bank’s support of leasing sectors/SMEs affected by the liquidity crisis in SEE.
The EBRD finance will be in conjunction with a senior loan to EuroLease Auto from a Bulgarian commercial bank(s).
Transition Impact
The proposed project is part of EBRD’s overall response to the impact of the global financial crisis on the leasing sector and its effect on the SMEs sector in all Countries of Operation. Leasing companies, as non-depository financial institutions relying mostly on external funding to support their growth, have been severely affected by the liquidity crisis.
This investment will increase the provision of long-term funding available in the leasing sector to be channelled to SMEs and, therefore, allow an increasing number of private entrepreneurs to access lease financing for trade and services.
The Client
EuroLease Auto Bulgaria (the “Company”) is specialized in the leasing of brand new passenger and commercial vehicles, predominantly to SMEs. It has been the largest and fastest growing non-bank affiliated leasing company in Bulgaria. Founded in 2004, EuroLease Auto is part of EuroHold Bulgaria (the “Parent”), a publicly listed holding with diversified operations in insurance, leasing, financial services, car brokerage, and manufacturing.
EBRD Finance
A senior loan in the amount of €10 million.
Project Cost
€15 million.
Environmental Impact
EuroLease Auto will be required to comply with EBRD’s Environmental Performance Requirement (“PR”) 9 when making local leases and will be required to conduct its business in accordance with PR 2. The Company’ will be required to comply with applicable national environmental, health and safety and labour requirements, adhere to the EBRD's Environmental and Social Exclusion and Referral Lists, and submit annual environmental and social reports to the Bank.
Technical Cooperation
None
Company Contact
Stoil Vasilev
Manager Business Development
EuroLease Group
43, Christopher Columbus Blvd.
1592 Sofia, Bulgaria
Tel: +359 2 4897 513
E-mail: s.vasilev@eurohold.bg
Website: www.eurohold.bg
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
