ACTIVITY TITLE
VERSION 2.01
Zagrebacki Holding Sustainability-Linked Bond
Reported by
European Bank for Reconstruction and Development XI-IATI-EBRD Multilateral
ACTIVITY SCOPE COLLABORATION TYPE AID TYPE FINANCE TYPE FLOW TYPE TIED STATUS HIERARCHY
National 4 Multilateral outflows 4
Project-type interventions C01
Untied 1
IATI IDENTIFIER
XI-IATI-EBRD-54399
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DOCUMENTS ( 4 )
Project Summary Document - Transition Impact Environmental Social Summary TEXT/HTML EN Pre- and post-project impact appraisal Project Summary Document TEXT/HTML EN Objectives / Purpose of activity Country Strategy TEXT/HTML EN Memorandum of understanding (If agreed by all parties) Procurement/Tenders TEXT/HTML EN Tender
Planned start date 2023-07-05
Planned end date 2028-07-11
Actual start date 2023-07-05
activity status: Implementation
The activity is currently being implemented
WHO'S INVOLVED ( 2 )
PARTICIPATING ORG REFERENCE ROLE TYPE
European Bank for Reconstruction and Development
 Funding Multilateral
ZAGREBACKI HOLDING DOO
 Implementing Private Sector
General
The EBRD invested EUR 72.5 million in the Zagrebacki Holding's (the "ZGH") EUR 305 million sustainability-linked bond ("SLB"). The bond has a 5-year maturity and was issued to refinance the ZGH's existing EUR 305 million bond issued in 2016 and 2017, in which the EBRD also invested. The bond will be listed on Zagreb Stock Exchange. With its investment, EBRD supported the first SLB issuance by municipality / public sector in Croatia. The bond is aligned with the International Capital Market Association's (ICMA) guidelines for sustainability-linked bonds as verified independently by second party opinion provider. The bond will also support ZGH in improving the waste management practices and increasing a share of renewable energy consumption. The key performance indicators of the SLB are found to be relevant to the SLB principles and material. The Project supports local capital market development as well as ZGH's balance sheet restructuring, improving ZGH's resilience to external shocks and investment potential.
recipient country ( 1 )
CroatiaHR
100
LOCATION ( 1 )
NAME DESCRIPTION POSITION CLASS REACH EXACTNESS
ZAGREB
ID 3186886 (Geonames)
45.81444 15.97798 Administrative Region Approximate
country budget items ( 1 )
IATI Withdrawn ( 1 )
The budget identifier reported uses IATI budget identifier categories
5.4.8
100
sector ( 1 )
OECD DAC CRS 5 digit1( 1 )
The sector reported corresponds to an OECD DAC CRS 5-digit purpose code http://reference.iatistandard.org/codelists/Sector/
Urban development and management43030
100
GLOSSARY
Urban development and managementIntegrated urban development projects; local development and urban management; urban infrastructure and services; municipal finances; urban environmental management; urban development and planning; urban renewal and urban housing; land information systems.
Financial Overview
Outgoing Commitment ( 1 )
Disbursement ( 1 )
Outgoing Commitment
Disbursement
Transactions ( 2 )
Outgoing Commitment ( 1 )
DATE DESCRIPTION PROVIDER RECEIVER VALUE
2023-07-05
FLOW Other flows 50
FINANCE Investment-related loan to developing countries Withdrawn 411
ZAGREBACKI HOLDING DOO
 72,500,000
EUR
Outgoing Commitment
Disbursement ( 1 )
DATE DESCRIPTION PROVIDER RECEIVER VALUE
2023-07-11
FLOW Other flows 50
FINANCE Investment-related loan to developing countries Withdrawn 411
ZAGREBACKI HOLDING DOO
 72,500,000
EUR
Disbursement
General Enquiries
European Bank for Reconstruction and Development
+44 20 7338 7380
projectenquiries@ebrd.com
www.ebrd.com
5 Bank Street, London E14 4BG
conditions( 1 )
NARRATIVE TYPE DESCRIPTION
The EBRD invested EUR 72.5 million in the Zagrebacki Holding's (the "ZGH") EUR 305 million sustainability-linked bond ("SLB"). The bond has a 5-year maturity and was issued to refinance the ZGH's existing EUR 305 million bond issued in 2016 and 2017, in which the EBRD also invested. The bond will be listed on Zagreb Stock Exchange. With its investment, EBRD supported the first SLB issuance by municipality / public sector in Croatia. The bond is aligned with the International Capital Market Association's (ICMA) guidelines for sustainability-linked bonds as verified independently by second party opinion provider. The bond will also support ZGH in improving the waste management practices and increasing a share of renewable energy consumption. The key performance indicators of the SLB are found to be relevant to the SLB principles and material. The Project supports local capital market development as well as ZGH's balance sheet restructuring, improving ZGH's resilience to external shocks and investment potential. For more details, please refer to the project summary document at https://www.ebrd.com/view/psd/54399
 Performance The condition attached requires certain outputs or outcomes to be achieved by the recipient