Home | Projects |

Orexim Operation

Ukraine | Industrials

Identification Code:: OP/16/0058
Total Operation Cost:: — EUR
Maturity:: 84 months
Operation Status:: BSTDB Approved Amount – Approval Date

31.000.000 EUR – 17 Aug 2017
: BSTDB Signed Amount – Signed Date

31.000.000 EUR – 30 Jan 2018
: Status:
Completed
Description and Purpose of the Operation:: Long term secured corporate loan to Orexim Group, Ukraine of up to EUR 31 million. The proceeds of the Bank's loan shall be used to finance the Group's Mykolaiv Grain Terminal modernization and capacity increase from 60,000 mts to 150,000 mts and to refinance part of the Group's debt.
Countries of Operation:: Ukraine (100,00%)
Financial Product:: Loans
Sector:: Industrials
Domain:: Private
Borrower/Client:: Mykolaiv Bread Product Plant PJSC, Ukraine
Co-Financers/Participants:: —
Guarantors/Sponsors:: Orexim Holdings Limited, Cyprus, Yuzhnaya Stevedoring Company Ltd., Ukraine, LLC Stevedoring Investment Co, Ukraine
Developmental and Regional Cooperation Impact:: The expansion of Orexim Group's grain terminal will facilitate exports of grains from Ukraine, providing Ukrainian agribusiness companies with a better access to the international markets, especially for small and medium companies. It will contribute to an increase in hard currency revenues of the Ukrainian agribusiness, transport and stevedoring companies which is essential from the point of view of strengthening of balance of payments of the country and ensuring stability of the local currency. Given the fact that considerable volumes of grain are exported to the countries of the Black Sea Region, the operation is expected to impact positively on the international trade and operations of the maritime transport in the region. The Operation is in compliance with the Bank's Strategy in Ukraine for 2015-2018.
Environmental Classification and Impact:: Screened Category B. The Operation has the potential to generate medium E&S risks and impacts that are generally limited and can be addressed through relevant mitigation measures. The main E&S issues associated with reconstruction and modernization project relate mainly to: legal compliance of the construction works with environmental, labor, and health and safety laws and regulations; labor and working conditions; pollution prevention and abatement especially of marine environment; and impacts on the local communities.
Operation Leader:: General Industries, Transport, Tourism 1
E-mail:: gitt1@bstdb.org