Can-Pack SA Bond

complete

The European Bank for Reconstruction and Development ("EBRD") invested in unsecured corporate bonds with 7 years' maturity, issued by Can-Pack S.A. ("the Company"), a Polish-based producer of aluminium cans and can ends. The Project entails financing of capacity upgrade of the existing facilities aimed at the introduction of resource efficient technologies, scaling up of recycling activity, as well as financing of additional working capital needs related to this programme in Poland, and an investment into a recycling programme in Romania, which is a part of investment plan realized by Can Pack Group. Transition impact of the transaction will be derived primarily from demonstration effect by (i) scaling up of the Company's recycling activities in Poland and Romania; (ii) introduction of innovative products to the local market, particularly lighter can ends; as well as (iii) demonstration effect of new financing methods, like such private placements, which are still rare at the Polish market. CAN-PACK SA Can-Pack S.A. is a private joint-stock company, headquartered in Krakow, Poland. Can-Pack S.A. is a parent company of Can Pack Group, which consists of companies located in 17 countries and of two foreign branches (in Finland and in Romania). Can-Pack S.A. is one of the leading producers of packaging, including aluminium and steel cans and can ends, metal closures, as well as glass packaging. EUR 40,000,000.00 Categorised B (ESP 2014); The company's production is associated with a number of environmental and social impacts which are typically well understood and readily mitigated through standard mitigation measures. Issues include mitigation of VOC-containing air emissions, appropriate waste water treatment, improvement of energy efficiency, maintenance of hygiene, and ensuring occupational health and safety. The Can-Pack Group is well known to the Bank through previous projects, have been operating can production plants in a number of European Union member states, and have a proven ability to operate to EU environment, health and safety standards and regulations. Given the nature of the project, E&S due diligence information was limited to what is known through previous due diligence, through reporting received to date, and through any other information which the Group made public in the course of the bond issue. Plants of Can-Pack Group have implemented, and certified, management systems covering quality (ISO 9001), food safety (BRC IoP), environment (ISO 14001), and occupational health and safety (OHSAS 18001). As a supplier to such multinational companies as Coca-Cola, PepsiCo, HEINEKEN, Carlsberg, and AB InBev the Group is required to meet the highest standards and is regularly audited against those standards. For example, the Group utilises top-class materials the selection of which, apart from the quality and cost-effectiveness criteria, is driven by environmental considerations. Only water-based paints and varnishes are used which allow the Group to eliminate the negative impact of the printing and varnishing process on the natural environment. The Group implemented a Code of Conduct which covers a number of key issues including labour and human rights, occupational health and safety and environment all of which are relevant to the Bank's Performance Requirements. None. Wojciech Nawrot canpack@canpack.eu +48 12 662 34 03 +48 12 662 34 19 www.canpack.eu Page 3 1 Jasnogórska Str., 31-358 Kraków, Poland