Transcript Diapositive 1

MISSION STATEMENT
SMEs in Central and Eastern Europe
lack long term financing, or face
inappropriate banking offer. This is
even more striking for social
enterprises such as cooperatives,
mutual societies, or economic
initiatives promoted by associations
and foundations.
Based in Brussels, CoopEst is an
investment company set up in 2006 to
support and finance socially
responsible projects in Central and
Eastern Europe.
CoopEst promotes both social and
economic development in Central and
Eastern Europe.
CoopEst is a professional, innovative
and committed long-term financial
partner.
1.
MISSION STATEMENT
2.
PORTFOLIO
3.
INVESTORS
4.
INVESTMENT MODALITIES
5.
CORPORATE GOVERNANCE
6.
FACILITY STRUCTURE
7.
CONTACTS
PORTFOLIO
BY COUNTRIES*
ROMANIA
€ 2,900,000
35%
POLAND
€ 1,870,000
23%
BULGARIA
€ 1,500,000
18%
KOSOVO
€ 1,500,000
18%
€ 500,000
6%
LITHUANIA
Total
€ 8,270,000
BY SECTORS
MICROFINANCE
€ 4,630,000
56%
SAVINGS AND
CREDIT UNIONS
€ 3,000,000
36%
€ 640,000
8%
COOPERATIVE
BANKS
Total
€ 8,270,000
* Click on blank countries for detailed information
RO - PL - BG - KS - LT
POLAND
INVESTMENTS
INICIJATYWA MIKRO (KRAKÓW)
Total committed
€ 1,230,000
Cooperative Bank ŁOWICZ
Total committed
€ 640,000
Back to Portfolio
RO - BG - KS - LT
ROMANIA
INVESTMENTS
OMRO (Targu Mures)
Total committed
€ 1,000,000
ROMCOM (Oradea)
Total committed
€ 800,000
FAER (Reghin)
Total committed
€ 600,000
LAM (Sfantu Gheorghe)
Total committed
€ 500,000
Back to Portfolio
PL - BG - KS - LT
BULGARIA
INVESTMENTS
MIKROFUND (Sofia)
Total committed
€ 500,000
NACHALA (Sofia)
Total committed
€ 1,000,000
Back to Portfolio
PL - RO - KS - LT
KOSOVO
INVESTMENTS
KRK (Pristina)
Total committed
€ 1,500,000
Back to Portfolio
PL - RO - BG - LT
LITHUANIA
INVESTMENTS
LCCU
Total committed
€ 500,000
Back to Portfolio
PL - RO - BG - KS
INVESTORS
COOPEST FOUNDING MEMBERS
FRANCE
 Crédit Coopératif
 IDES
Investissements
 MACIF
Participations
BELGIUM
 SOFICATRA
ITALY
 CFI
 SEFEA
POLAND
 TISE
OTHER INVESTORS
INVESTOR
OTHER
INVESTORS
S
FRANCE
 Crédit Mutuel
 MAIF Insurance
Group
ITALY
 The Co-operative Federation of
Trentin
MALTA
 APS Bank
NORWAY
 CULTURA
Bank
USA
 IFC, World Bank
Group
COOPEST FOUNDING MEMBERS
INVESTOR
COOPEST
FOUNDING MEMBERS
S
FRANCE
 Crédit Coopératif
 IDES
Investissements
 MACIF
Participations
BELGIUM
 SOFICATRA
Crédit Coopératif is a diversified French banking-group which
offers its clients an extensive range of products and services.
As a co-operative, its clients hold the capital. They are essentially
corporate bodies: businesses and social economy organisations,
associations, cooperatives, mutual benefit associations, unions,
works councils, housing associations, companies affiliated to
organisations, small and medium-sized businesses and industries.
It also serves private individuals who are closely associated with
these businesses and organisations.
ITALY
 CFI
 SEFEA
POLAND
 TISE
OTHER INVESTORS
While it has remained independent since its creation, it has recently
joined the Banque Populaire Group as a parent company. Its
mission within this group is to be the centre of excellence with
regard to social and solidarity-based economy.
Contact: Ms Yaël Zlotowski • 33 rue des Trois-Fontanot • 92002
Nanterre • France
Tel. +33 -1- 47 24 83 39 • [email protected] •
www.credit-cooperatif.coop
INVESTOR
COOPEST
FOUNDING MEMBERS
S
FRANCE
 Crédit Coopératif
 IDES Investissements
 MACIF
Participations
BELGIUM
 SOFICATRA
ITALY
 CFI
 SEFEA
POLAND
 TISE
OTHER INVESTORS
IDES, the Institute for the Development of Social Economy, was setup by actors of the Social Economy in 1983 in order to foster the
development of social economy enterprises by providing equity
finance support.
Contact: Mr Marcel Hipszman • La Defense 5, Immeuble Lafayette, 2
Place des Vosges • 92400 Courbevoie • France
Tel. +33 -1- 55 23 07 18 • [email protected] •
www.esfin-ides.com
INVESTOR
COOPEST
FOUNDING MEMBERS
S
FRANCE
 Crédit Coopératif
 IDES
Investissements
 MACIF Participations
BELGIUM
 SOFICATRA
ITALY
 CFI
 SEFEA
POLAND
 TISE
OTHER INVESTORS
MACIF is a mutual insurance company, which activities and
financing supports are guided by sustainable development and
socially responsible approach. In that way MACIF, through a
Participatory Governance, places its members in the centre of the
enterprise matters and gives an essential role to its delegates.
Contact: Mr Hughes Fournier • 17-19 Place Etienne Pernet • 75015
Paris • France
Tel. +33 -1- 55 31 62 28 • Email [email protected] •
www.macif.fr
INVESTOR
COOPEST
FOUNDING MEMBERS
S
FRANCE
 Crédit Coopératif
 IDES
Investissements
 MACIF
Participations
BELGIUM
 SOFICATRA
ITALY
 CFI
 SEFEA
POLAND
 TISE
OTHER INVESTORS
With more than 15 years of experience in financing Social Economy
enterprises throughout Europe, Soficatra is a key player for equity
or quasi-equity investments in small and medium sized enterprises
associated with the co-operative, mutual and associative economy
as well to participative enterprises (companies with direct participation of the personnel in the management and shareholding or
employee-buy out).
Contact: Mr Bruno Dunkel • Av. Jules César 2/7 • 1150 Brussels •
Belgium
Tel. +32 -2- 770 1562 • Email [email protected] •
www.soficatra.org
INVESTOR
COOPEST
FOUNDING MEMBERS
S
FRANCE
 Crédit Coopératif
 IDES
Investissements
 MACIF
Participations
BELGIUM
 SOFICATRA
ITALY
 CFI
 SEFEA
POLAND
 TISE
OTHER INVESTORS
The Compagnia Finanziaria Industriale is an institutional investor
that has been dedicated to work with social and worker
cooperatives for more than 20 years. It participates in company
risks, supports investments and provides management with
constant support for their strategic decisions and operational
choices.
Contact: Mr Alberto Zevi • Via Vicenza • 5A, 00185 Roma • Italy
Tel. +39 - 06 - 444 02 84 • Email [email protected] • www.cfi.it
INVESTOR
COOPEST
FOUNDING MEMBERS
S
FRANCE
 Crédit Coopératif
 IDES
Investissements
 MACIF
Participations
BELGIUM
 SOFICATRA
ITALY
 CFI
 SEFEA
POLAND
 TISE
OTHER INVESTORS
The European Ethical and Alternative Financing Company is the
first European alternative financing company to have the know-how
and the operational tools, capable of strengthening and multiplying
the ethical and solidarity-based financial ventures in all European
countries. It was founded in 2002 by the members of the Federation
of European Ethical and Alternative Banks and Financiers.
Contact: Ms Marianna Calabro • Via N. Tommaseo 7 • 35131
Padova, Italy
Tel. +39 -049- 8771176 • Email [email protected]
INVESTOR
COOPEST
FOUNDING MEMBERS
S
FRANCE
 Crédit Coopératif
 IDES
Investissements
 MACIF
Participations
BELGIUM
 SOFICATRA
ITALY
 SEFEA
TISE is a venture capital provider for the micro-entreprise sector in
Poland. Founded in 1992, just after the collapse of the communist system
in Poland, it is one of the first actors on the venture capital market in the
region.
Contact: Mr. Michał Radziwiłł, ulica Nalewki 8/27, 00-158 Warszawa,
POLAND
Poland Tel. +48 -22- 636 0740 • Email [email protected]
• www.tise.com.pl
 CFI
 TISE
OTHER INVESTORS
INVESTOR
O
STHER INVESTORS
FRANCE
 Crédit Mutuel
 MAIF Insurance Group
ITALY
 The Co-operative Federation of
Trentin
MALTA
 APS Bank
NORWAY
 CULTURA Bank
USA
 IFC, World Bank
Group
COOPEST FOUNDING MEMBERS
Crédit Mutuel is a co-operative bank with a strong local and
regional focus. It is a large French retail banking group. Its three
major services – banking, insurance and technology – are offered
to all of its clients: individuals, SME, as well as to businesses of all
sizes.
INVESTOR
OTHER
INVESTORS
S
FRANCE
 Crédit Mutuel
 MAIF Insurance
Group
ITALY
 The Co-operative Federation of
Trentin
MALTA
 APS Bank
NORWAY
 CULTURA Bank
USA
 IFC, World Bank
Group
COOPEST FOUNDING MEMBERS
Mutuelle Assurance Instituteur France offers insurance services.
The company offers life, health, accident, automobile, and property
insurance. Mutuelle Assurance Instituteur France also provides
online insurance as well as advisory services. The company is
based in Niort, France.
INVESTOR
OTHER
INVESTORS
S
FRANCE
 Crédit Mutuel
 MAIF Insurance
Group
ITALY
 The Co-operative Federation of
Trentin
MALTA
 APS Bank
NORWAY
 CULTURA Bank
USA
 IFC, World Bank
Group
COOPEST FOUNDING MEMBERS
The Co-operative Federation of the Trentino region (Northern Italy)
was created in 1881 and counts today more than 200 000 members
among the half a million inhabitants of the region. It is a network of
co-operatives, which includes credit, agricultural, retail and labour,
social services and building co-operatives who employ in total over
13 000 persons
INVESTOR
O
STHER INVESTORS
FRANCE
 Crédit Mutuel
 MAIF Insurance
Group
ITALY
 The Co-operative Federation of
Trentin
MALTA
 APS Bank
NORWAY
 CULTURA Bank
USA
 IFC, World Bank
Group
COOPEST FOUNDING MEMBERS
APS Bank is an institution wholly owned by the Catholic Church in
Malta. Over the years the Bank has sought to identify sectors in
which it can contribute to their development. Areas like housing,
agriculture, heritage, education, have all been strongly assisted by
the Bank. The APS Bank is specialised in retail and community
banking.
INVESTOR
O
STHER INVESTORS
FRANCE
 Crédit Mutuel
 MAIF Insurance
Group
ITALY
 The Co-operative Federation of
Trentin
MALTA
 APS Bank
NORWAY
 CULTURA Bank
USA
 IFC, World Bank Group
COOPEST FOUNDING MEMBERS
Cultura Bank is a fully licensed savings bank incorporated in
1996. The bank had its first full operational year in 1997.
The by-laws of Cultura states that the bank’s purpose is to finance
projects that represent a value beyond the pure economical, like
ecological balance, social conditions and cultural diversity. The
embryo of Cultura Bank was a credit union, founded in 1984.
Following a long process, the banking licence was granted in
August 1996. The bank started out with a fully paid equity of NOK
10 mill (€ 1.25 mill) and loans amounting to NOK 20 mill, taken
over from the credit union.
INVESTOR
O
STHER INVESTORS
FRANCE
 Crédit Mutuel
 MAIF Insurance Group
ITALY
 The Co-operative Federation of
Trentin
MALTA
 APS Bank
NORWAY
 CULTURA Bank
USA
 IFC, World Bank
Group
COOPEST FOUNDING MEMBERS
The IFC (International Finance Corporation) is the private sector
arm of the World Bank Group. Founded in 1956, IFC finances
private sector investments in the developing world, mobilizes
capital in the international financial markets, helps clients improve
social and environmental sustainability, and provides technical
assistance and advice to governments and businesses.
INVESTMENT MODALITIES
CoopEst aims to provide long-term
financial support both in terms of
equity (subordinated loan), long-term
loans and guarantees to sustainable
and socially responsible projects in
the target countries enabling them to
leverage further funding for the
development of their activities.
 Support to financial
institutions
 Target sectors
 Investment products
 Size of investment
 Duration of investment
 Currency
 Decision making process
INVESTMENT MODALITIES
CoopEst aims to provide long-term
financial support both in terms of
equity (subordinated loan), long-term
loans and guarantees to sustainable
and socially responsible projects in
the target countries enabling them to
leverage further funding for the
development of their activities.
 Support to financial institutions
 Target sectors
 Investment products
 Size of investment
 Duration of investment
 Currency
 Decision making process
CoopEst invests in financial intermediaries like banks, credit
unions, savings cooperatives, microfinance institutions ...
CoopEst can also innovate with tailored-made financing tools
created in close cooperation with local institutions and banking
partners.
INVESTMENT MODALITIES
CoopEst aims to provide long-term
financial support both in terms of
equity (subordinated loan), long-term
loans and guarantees to sustainable
and socially responsible projects in
the target countries enabling them to
leverage further funding for the
development of their activities.
 Support to financial
institutions
 Target sectors
 Investment products
 Size of investment
 Duration of investment
 Currency
 Decision making process
CoopEst is a financial facility aiming at initiating and fostering the
development of co-operatives, mutual societies, associations,
foundations and social enterprises (which together can be
referred to as Social Economy).
INVESTMENT MODALITIES
CoopEst aims to provide long-term
financial support both in terms of
equity (subordinated loan), long-term
loans and guarantees to sustainable
and socially responsible projects in
the target countries enabling them to
leverage further funding for the
development of their activities.
 Support to financial
institutions
 Target sectors
 Investment products
 Size of investment
 Duration of investment
 Currency
 Decision making process
CoopEst provides long term debt and quasi-equity.
Global Loans, Subordinated Loans, Subscriptions to Bond Issues;
Co-investments (Syndicated Loans); Interventions in providing
Guarantees are also possible so as to help final beneficiaries to
get better access to local and international (especially European)
Loan Bank financing
INVESTMENT MODALITIES
CoopEst aims to provide long-term
financial support both in terms of
equity (subordinated loan), long-term
loans and guarantees to sustainable
and socially responsible projects in
the target countries enabling them to
leverage further funding for the
development of their activities.
 Support to financial
institutions
 Target sectors
 Investment products
 Size of investment
 Duration of investment
 Currency
 Decision making process
Approx. between 500.000 € and 2.000.000 €
INVESTMENT MODALITIES
CoopEst aims to provide long-term
financial support both in terms of
equity (subordinated loan), long-term
loans and guarantees to sustainable
and socially responsible projects in
the target countries enabling them to
leverage further funding for the
development of their activities.
 Support to financial
institutions
 Target sectors
 Investment products
 Size of investment
 Duration of investment
 Currency
 Decision making process
Up to 9 years
INVESTMENT MODALITIES
CoopEst aims to provide long-term
financial support both in terms of
equity (subordinated loan), long-term
loans and guarantees to sustainable
and socially responsible projects in
the target countries enabling them to
leverage further funding for the
development of their activities.
 Support to financial
institutions
 Target sectors
 Investment products
 Size of investment
 Duration of investment
 Currency
 Decision making process
Usually CoopEst invest in euro currency but investments in local
currencies are also possible provided that a specific hedging
solution is added to the investment modalities.
INVESTMENT MODALITIES
CoopEst aims to provide long-term
financial support both in terms of
equity (subordinated loan), long-term
loans and guarantees to sustainable
and socially responsible projects in
the target countries enabling them to
leverage further funding for the
development of their activities.
 Support to financial
institutions
 Target sectors
 Investment products
 Size of investment
 Duration of investment
 Currency
 Decision making process
The Board of Directors takes the final decision for investment by
relying on the recommendation of the Executive Committee which
is in charge of the assessment of each investment project
CORPORATE
GOVERNANCE
The method of operating and of
appointment of the various bodies intervening
in
the decision-making process is set out
in
a Charter of Corporate Governance
which ensures compliance with the
rules of Corporate Governance as
stipulated at
the European and national levels.
GENERAL ASSEMBLY
The GA represents all the
shareholders of the company. In
accordance with company
law, the Shareholders Assembly is the
BOARD OF DIRECTORS
sovereign body of the company.
EXECUTIVE COMMITTTEE
CORPORATE
GOVERNANCE
BOARD OF DIRECTORS
The Board of Directors establishes
the global strategy of the company,
the priority guidelines for investment
and the annual budget. The Board of
Directors meets a minimum of 3 times
per year (5 times in 2007).
Representation of the bonds
subscribers is stipulated.
GENERAL ASSEMBLY
EXECUTIVE COMMITTTEE
Mr François SOULAGE, Chairman (IDES Investissements)
Mr Karol SACHS, vice-Chairman (Crédit Coopératif)
Mr Jacques COLIN (Macif Participations)
Mr Jean Paul FELDBUSCH (Soficatra)
Mr Hughes FOURNIER (Macif Participations)
Mr Marcel HIPSZMAN (IDES Investissements)
Mr André LAUDE (IFC)
Mr Pierre VALENTIN (Crédit Coopératif)
Mr Alberto ZEVI (CFI)
CORPORATE
GOVERNANCE
EXECUTIVE COMMITTEE
Members:
The daily management of the
Company and the Facility is delegated
by the Board to the Executive
Committee.
Mr Michał RADZIWIŁŁ Chairman
Ms Yaël ZLOTOWSKI vice-Chairman
Mr Bruno DUNKEL Corporate Secretary
It is responsible for :
Supervising the constitution of the
financial applications to the Facility by
using the assistance and expertise
necessary
Submitting these financial requests
to the Board of Directors for decision.
The finalisation of and reporting on
the investment.
Furthermore, the Facility relies on
decentralised contacts and experts,
both in the assessment and the
constitution of the financial requests
to submit to the Credit Committee and
in the reporting on the investments
GENERAL ASSEMBLY
BOARD OF DIRECTORS
Chargé de Missions:
Mr Ralph BÖHLKE
Assistant:
Ms Monika CZERWINSKA
FACILITY STRUCTURE
COOPEST issued a first tranche of € 15,000,000 with the following structure:
Total size of tranche 1:
€ 15,000,000
Total size of tranche 2:
€ 15,000,000
TOTAL FACILITY:
€ 30,000,000
EUR
% of
total
Subscribe
d to
Capital Shares
3,000,000
20
100%
Mezzanine Bonds
(B)
4,500,000
30
100%
Senior Bonds (C)
7,500,000
50
72%
15,000,000
100
86%
Total
Tenor
12 years - up to 2018
12 years - up to 2018
The Founding Partners have contributed directly for € 6.5 million to the Capital Shares,
the B and C Bonds according to the following table:
EUR
Capital Shares
3,000,000
Mezzanine Bonds
(B)
1,000,000
Senior Bonds (C)
2,500,000
IFC (World Bank Group) subscribed in Mezzanine B Bonds for € 3.5 million.
2nd tranche
INVESTMENT
OPPORTUNITY
Tranche 2 (to be issued end 2008)
Total size of tranche 1:
€ 15,000,000
Total size of tranche 2:
€ 15,000,000
TOTAL FACILITY:
€ 30,000,000
Capital Shares
€ 3 million (20%)
50 %
CoopEst Facility
2nd
tranche: € 15 million
Mezzanine B bonds
€ 4.5 million (30%) – 10 years
Senior C bonds
€ 7.5 million (50%) – 6 years
1st tranche
50 %
CONTACTS
COOPEST S.A.
Av. Jules César 2, box 7
B-1150 Brussels
TEL: +32 (2) 770 15 62
FAX: +32 (2) 230 75 41
www.coopest.eu
Mr. Michał Radziwiłł
[email protected]
Ms. Yaël Zlotowski
[email protected]
Mr. Bruno Dunkel
[email protected]
Mr. Ralph Böhlke
[email protected]