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Araks Group Real Estate Project, Ukraine

Ukraine | Real Estate

Identification Code:: OP/19/0055
Total Operation Cost:: — USD
Maturity:: 84 months
Operation Status:: BSTDB Approved Amount – Approval Date

20.000.000 USD – 18 Feb 2021
: BSTDB Signed Amount – Signed Date

20.000.000 USD – 07 Jun 2021
: Status:
Active
Description and Purpose of the Operation:: Senior secured corporate loan for the purposes of financing costs related to the improvement of energy efficiency of retail and office premises in the cities of Kyiv and Khmelnitsky and partially refinancing the existing loans.
Countries of Operation:: Ukraine (100,00%)
Financial Product:: Loans
Sector:: Real Estate
Domain:: Private
Borrower/Client:: Araks Group, Ukraine
Co-Financers/Participants:: n/a
Guarantors/Sponsors:: Companies of Araks Group
Developmental and Regional Cooperation Impact:: The Bank’s financing will support an improvement of energy efficiency for more than 53,000 sq. m. of the shopping and office space and it is estimated to have positive effect for the overall operation efficiency of the Group as well as for the environment in the member state Ukraine.
Environmental Classification and Impact:: The Operation will support modernization of Araks Group’s existing office and commercial buildings in Kyiv and Chmelnitskiy.The works will include insulation of the buildings’facade and roof,installation of energy efficient windows,PV panels,and modernization of the ventilation system.Upon finalization the buildings is expected to meet class A energy efficiency requirements, and as a result decrease the carbon footprint through emission reduction, and decrease the costs of maintenance and utilities. For the purpose of environmental and social (E&S) due diligence the operation has been screened as category B as it is associated with limited risks and impacts, which are not likely to be significant and can be avoided by applying recognized construction industry’s performance standards,guidelines and design criteria.
Operation Leader:: General Industries, Transport, Tourism 1
E-mail:: gitt1@bstdb.org