Translated version of this PSD: Russian
The EBRD is considering providing a RUB senior secured loan of up to the equivalent of EUR 45 million to OAO Hlebny Dom. The proceeds will be applied to refinance loans obtained to finance a part of a project, which was originally approved by the EBRD and loan agreement signed by EBRD and the Client in 2008 and recently cancelled.
This Project will impact the Russian sector by demonstrating successful restructuring of acquired plants and transformation into modern, efficient production facilities capable of producing and distributing good quality, high standard, well-packaged bakery products. The Project should also have a positive transition impact on the distribution sector which by applying Fazer’s group quality, packaging and sales conditions (e.g. clearly marked shelf-life data) to a larger market, including key accounts such as major retail operators. Lastly, the Project is expected to have a positive impact on local suppliers, thanks to know-how transfer to suppliers and demand for locally produced quality ingredients, high quality control and delivery standards on the part of local suppliers.
Fazer Russia, though its Russian holding entity OAO Hlebny Dom.
Up to RUB equivalent of € 45 million senior secured loan.
€ 130 million
Screened B. The Project was categorised B according to the EBRD’s Environmental and Social Policy 2008. The potential adverse future environmental and social impacts associated with the Project are site-specific and readily addressed through mitigation measures.
Due diligence is still ongoing, following completion an Environmental and Social Action Plan (ESAP) will be developed and agreed with the Company prior to Board submission to ensure the Company's compliance with the Bank’s Performance Requirements.
The Bank will monitor the Company's environmental and social performance for the lifetime of the project through annual environmental and social reporting and via periodic site visits. The Company will be required to immediately notify the Bank of any incidents or accidents likely to have an effect on the environment or worker and public safety.
For business opportunities or procurement, contact the client company.
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Tel: +44 20 7338 7168
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