Financed ProjectsAgricover Holding Corporate Bond Issue -

Identification Code:

OP/20/0032

Total Operation Cost:

40.000.000

Maturity:

60 months

Operation Status:

Description and Purpose of the Operation:

The project refers to a medium-term senior unsecured corporate bond to Agricover Holding to support Agricover Group’s financial arm (Agricover Credit IFN) to provide finance for the grain farmers in Romania

Countries of Operation:

Romania (100,00 %)

Financial Product:

Loans

Sector:

Consumer Staples

Domain:

Private

Borrower/Client:

Agricover Holding SA, Romania

Co-Financiers/Participants:

n.a.

Guarantors/Sponsors:

n.a.

Developmental and Regional Cooperation Impact:

Agricover Holding is involved in the provision of various equipment and services to the entities involved in agriculture. The bond will be issued in Romania. Given the importance and the potential of agriculture in Romania, support of the company that operates in this field will have both developmental impact and regional cooperation impact, given that Romania exports a significant amount of agricultural products, including to BSTDB member countries.

Environmental Classification and Impact (summary):

The E&S due diligence carried out previously concluded that it is a Category B operation with limited and readily identifiable risks and impacts that can be mitigated/minimized or avoided by adhering to generally accepted performance standards, guidelines and design criteria for this type of agribusiness activities. Agricover Credit has been screened as Category FI and was assessed as a financial intermediary. The E&S performance of both entities is monitored annually and their general performance is being assessed as very good. For the purpose of this operation, which is purchasing of corporate bonds issued by Agricover Holding, the due diligence will be limited mostly to assessment of improvements of its management systems. No other assessment is deemed necessary.

Operation Leader:

General Industries, Transport, Tourism 2

E-mail:

gitt2@bstdb.org