Podravka signs a contract on syndicated loan with EBRD and four business banks receiving the most favourable terms in the region
With this new financial deal Podravka additionally strengthens its financial position and creates preconditions for further growth on international market
Hotel Esplanade in Zagreb was the venue of today's ceremony of signing a syndicated loan between Podravka d.d., Belupo d.d. and Žito d.d. as the user and European Bank for Reconstruction and Development as the arranger (including Unicredit Slovenia through A/B structure) and four business banks: Privredna Banka Zagreb d.d., Raiffeisenbank Austria d.d., SKB d.d. and Erste &Steiermarkische Bank d.d as creditors.
Total value of this financial deal is EUR 123 million and the funds have been approved to Podravka for the six year period with extremely favourable interest rate which is 100 bp lower than existing, with expected annual savings of HRK 3.5 million and currently this are the most favourable crediting terms in the Adria region. Funds approved are intended for refinancing of existing loan liabilities and for further capital investments and possible acquisitions.
On this occasion Podravka Management Board president Zvonimir Mršić said: „Such crediting terms additionally confirm the power of Podravka, the success of conducted efficiency increase over the past few years, its stability in business, financial management and a potential of further business expansion to international markets. By signing this contract we have assured funds for further business consolidation and given impetus to continue further internationalization of Podravka Group.“
Vedrana Jelušić Kašić, EBRD Director, Regional Head of Croatia and Slovenia, said: „Podravka achieved significant improvement in internal restructuring, but also in winning new markets and achieving business internationalization. Supporting companies in countries where we invest to expand regionally is one of the EBRD’s current strategic goals and the financing package we have signed today is a perfect example for this. To Podravka and its employees we wish much success in further business development, both in Croatia and globally."
Source of information:
PODRAVKA Inc.
Corporate Communications
A. Starčevića 32; HR - 48000 Koprivnica
tel. 048 651 953
fax. 048 622 008
web: www.podravka.com
e-mail: press@podravka.hr
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