Financed ProjectsInterPipe bond acquisition,Ukraine

Identification Code:

OP/20/0033

Total Operation Cost:

300.000.000

Maturity:

60 months

Operation Status:

Description and Purpose of the Operation:

Participation in the InterPipe USD 300 million guaranteed notes with the Bank’s participation of up to USD 15 million, earmarked to finance maintenance and development capex of the Group in Ukraine.

Countries of Operation:

Ukraine (100,00 %)

Financial Product:

Loans

Sector:

Materials

Domain:

Private

Borrower/Client:

InterPipe Holdings PLC

Co-Financiers/Participants:

Public placement

Guarantors/Sponsors:

Corporate guarantees, provided by the Group’s companies.

Developmental and Regional Cooperation Impact:

The Bank will support an important player in acquiring technology to be integrated in the daily operations in the Ukrainian steel tube sector.

Environmental Classification and Impact (summary):

Category B+. ESDD concludes that Interpipe is associated with medium-to- high E&S risks and impacts, which are diverse and require complex mitigation measures, but at the same time are readily identifiable, site specific, and can be efficiently managed through good practices applied by the steel manufacturing industry. The Issuer has instituted solid management systems at all its production facilities as per ISO 14001 and OHSAS 18001 that allows to systematically and continuously address any E&S issues associated with its business and respond adequately in case of emergencies. The E&S performance is improving and due to important capex in pollution prevention and health and safety resulting in significant reduction of emissions, discharges and solid wastes. Overall, the ESDD suggests that Interpipe is a well-managed and environmentally and socially responsible company.

Operation Leader:

General Industries, Transport, Tourism 1

E-mail:

gitt1@bstdb.org