Financed ProjectsHatziioannou Corporate Loan

Identification Code:

OP/15/0007

Total Operation Cost:

0

Maturity:

96 months

Operation Status:

Description and Purpose of the Operation:

A long-term corporate loan to Hatziioannou Industrial and Commercial S.A. (Greece) in the amount of up to EURO 6.2 million to support the Company's capital expenditure program in 2015 - 2016

Countries of Operation:

Greece (100,00 %)

Financial Product:

Loans

Sector:

Materials

Domain:

Private

Borrower/Client:

Hatziioannou Industrial and Commercial S.A. (Greece)

Co-Financiers/Participants:

N.A.

Guarantors/Sponsors:

N.A.

Developmental and Regional Cooperation Impact:

The Bank will provide long-term financing, the supply of which is nowadays highly limited in Greece. The Bank will support the upgrade of the technological base of a leading company operating in one of the less developed areas of Greece The Bank will finance investments directed at expansion of production capacity and improvement in cost structure thus contributing to strengthening of the Company's competitive advantages and export profile.

Environmental Classification and Impact (summary):

The Operation has been assigned E&S category B with medium to low potential to generate negative impacts and risks. The existing issues are limited, site-specific, and can be readily addressed through mitigation measures. The Bank's E&S assessment was based on the information provided by the Borrower through the E&S questionnaire, site inspection and interviews with the key personnel. The assessment concluded that: 1) the existing facility in Stavrohori is compliant with the national environmental, labor, and health and safety legal requirements; 2) the Company has certified its manufacturing process according to BRC Global Standard for Packaging and Packaging Materials and has received the relevant certificate of approval; 3) no critical issues have been identified in relation to occupational health and safety, labor standards, and terms and conditions of employment; and 4) no critical issues have been identified with regard to pollution prevention and mitigation.

Operation Leader:

General Industries, Transport, Tourism 1

E-mail:

gitt1@bstdb.org