GEFF - Poland - Millennium Leasing

Location:

Poland

Project number:

49944

Business sector:

Leasing Finance

Notice type:

Private

Environmental category:

FI

Target board date:

26 Apr 2018

Status:

Signed

PSD disclosed:

21 Mar 2018

Translated version of this PSD: Polish

Project Description

The provision of a senior loan of PLN 300 million to Millennium Leasing Sp. z o.o. ("Project") under the PolGEFF Leasing Framework ("Framework"). The proceeds will be used to provide leasing finance to small and medium-sized enterprises ("SMEs") in Poland. This will be the second project under the Framework.

Project Objectives

Millennium Leasing Sp. z o.o. will use the proceeds of the loan to finance energy and resource efficiency, renewable energy, water and waste management sub-projects, through private businesses, that stimulate green economy transition (i.e. GET investments), under PolGEFF Leasing Framework. The eligible sub-projects will cover a broad spectrum of technologies and will be selected according to technical, financial and environmental eligibility criteria.

Transition Impact

The main sources of transition impact will stem from the demonstration of commercial viability of resource and energy efficiency investments to private businesses and the financial sector, which is expected to contribute to the market expansion and transfer of skills in Poland.

Client Information

MILLENNIUM LEASING SP Z O O

Millennium Leasing S.A. is part of Bank Millennium S.A. Capital Group and is the 8th largest leasing company in Poland with €720 million in net asset value financed in 2017. Millennium Leasing specializes in the financing of machinery, equipment and vehicles (light and heavy transport).

EBRD Finance Summary

EUR 75,000,000.00

Senior loan of up to €75 million with a maturity of 5 years and 2.5 year grace period.

Total Project Cost

EUR 75,000,000.00

Environmental and Social Summary

Categorised FI (ESP 2014). Bank Millennium will be required to ensure Millennium Leasing complies with EBRD's Performance Requirements 2, 4 and 9, adopts and implements the EBRD's E&S Procedure for Leasing and submits Annual Environmental and Social Reports to the EBRD on E&S matters and on the implementation of the PRs.

Technical Cooperation

None.

Company Contact Information

Radoslaw Szczesniak
radoslaw.szczesniak@millenniumleasing.pl
+ 48 22 598 2827

Business opportunities

For business opportunities or procurement, contact the client company.

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