ZAGREB, Oct 5 (Hina) - The steering committee of the European Bank for Reconstruction and Development Wednesday night agreed on a syndicating loan of DM500 million to Croatia's Agrokor Concern. The loan, which is expected to be signed
by the end of this month, will be granted with a grace period of a year and a half and a six year maturity, Agrokor's president Ivica Todoric said Thursday. The funds would be used for the partial roll-over of debts and for new investments. The loan had been agreed on exclusively based on the company's balance of accounts and business indicators, without a guarantee from the state. Company shares would be used as collateral and exclusive guarantee for the loan, Todoric asserted. This is proof that a well-placed strategy, good projects and companies can receive loans, and at the same time, it is a confirmation of the fact that investments into Croati
EBRD GRANTS DM500 MILLION TO AGROKOR, NO STATE GUARANTEE REQUIRED
ZAGREB, Oct 5 (Hina) - The steering committee of the European Bank
for Reconstruction and Development Wednesday night agreed on a
syndicating loan of DM500 million to Croatia's Agrokor Concern.
The loan, which is expected to be signed by the end of this month,
will be granted with a grace period of a year and a half and a six year
maturity, Agrokor's president Ivica Todoric said Thursday.
The funds would be used for the partial roll-over of debts and for
new investments.
The loan had been agreed on exclusively based on the company's
balance of accounts and business indicators, without a guarantee
from the state. Company shares would be used as collateral and
exclusive guarantee for the loan, Todoric asserted.
This is proof that a well-placed strategy, good projects and
companies can receive loans, and at the same time, it is a
confirmation of the fact that investments into Croatia are possible
and good, he stressed.
(hina) lml