📋 Tender Overview
Location:
Slovenia
Project number:
55922
Business sector:
Agribusiness
Notice type:
Private
Environmental category:
B
Approval date:
03 Dec 2024
Status:
Signed
English-language PSD published:
07 Feb 2025
Project Description
Participation of €5 million in a €27 million local bond issuance (the "Bond") by Incom. The proceeds from the Bond issuance will be utilised for (i) capex investments, (ii) working capital and (iii) refinancing of the existing financial indebtedness. The Bond is listed on Ljubljana Stock Exchange and publicly traded.
Project Objectives
The main objective of the Project is to support the Company's investment program and further strengthen its balance sheet.
Transition Impact
ETI score: 58
Transition impact is expected to derive from:
The primary transition impact quality is "Competitive", as the Project will support operational improvements leading to higher profitability and enhanced competitiveness.
The secondary transition impact quality is "Resilient", as the Project will contribute to Slovenian capital market development.
Client Information
INCOM DOO
Incom d.o.o. ("Incom", the "Company") is a limited liability company incorporated in Slovenia and one of the leading ice-cream producers.
EBRD Finance Summary
EUR 5,000,000.00
Total Project Cost
EUR 27,000,000.00
Additionality
Additionality stems from (i) financing structure and (ii) risk mitigation as the Bank's involvement provides comfort to the other investors and further widens market participation.
Environmental and Social Summary
Categorised B (ESP 2019). The Project is subject to capital market rules and due diligence has been restricted to the review of publicly available information and limited engagement with the Company. E&S risks and impacts associated with the Project and its operations are appropriately managed with improvements planned, notably with the procurement of cocoa, palm oil and dairy products and the management of supply chain deforestation risks. The Project is required to comply with EBRD's E&S requirements which are agreed via a side letter. An ESAP, focussing on supply chains, is agreed with the Company. The Company has in place a management system to manage food safety and quality from procurement to distribution. The system is certified to Global Standards for Food Safety and IFS's Food Standard and is subject to regular audits. Pasteurization temperature is continuously monitored with X-ray technology to ensure safe and high-quality production. The Company has an occupational health and safety system, and comprehensive records are maintained on safety training, worker health examinations, etc. The Company is making many advancements with regards to improving its resource and environmental management. It has installed a wastewater treatment which has reduced its waste footprint, has switched to more environmentally efficient refrigerant gases, focuses on innovative packag
