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Alumil Syndicated Term Loan II

Greece | Industrials

Identification Code:: OP/07/0666
Total Operation Cost:: 80.000.000 EUR
Maturity:: 78 months
Operation Status:: BSTDB Approved Amount – Approval Date

27.000.000 EUR – 27 Jul 2007
: BSTDB Signed Amount – Signed Date

27.000.000 EUR – 03 Oct 2007
: Status:
Completed
Description and Purpose of the Operation:: BSTDB participates in a syndicated term loan facility provided to Alumil Mylonas S.A. The Facility is arranged by two leading Greek banks (Alpha Bank and Piraeus Bank) and will be used for general funding purposes.
Countries of Operation:: Greece (100,00%)
Financial Product:: Loans
Sector:: Industrials
Domain:: Private
Borrower/Client:: Alumil Mylonas S.A
Co-Financers/Participants:: —
Guarantors/Sponsors:: a. Alpha Bank and Piraeus Bank (Lead Arrangers) b. Eurobank , Emporiki (participant banks)
Developmental and Regional Cooperation Impact:: BSTDB participation will have development impact in Albania, Bulgaria, Romania, as well as in the relatively less developed areas of Greece, since Alumil has many production plants in such areas and will result to new job opportunities.
Environmental Classification and Impact:: The Operations is categorized as B0 according to the Bank's environmental screening categories, meaning that an Environmental Assessment is needed, and no Environmental Auditing. The impacts associated with the project are clearly understood and are not likely to be significant, mainly due to the project nature and scale, as well as the mitigation measures in place. Environmental Audit was deemed unnecessary due to the fact that the Borrower has successfully implemented in all its production facilities Environmental Management System (EMS) according to ISO 14001, which provides very accurate and comprehensive up-to-date information about the EH&S aspects of the Borrower's activity. The Client is required to continuously follow the applicable regulations in the countries of operations, and EU/BSTDB EH&S requirements, and also submit annual EH&S performance reports.
Operation Leader:: General Industries, Transport, Tourism 1
E-mail:: gitt1@bstdb.org