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Agrokor signs EUR475 mln arrangement with syndicate of five banks

Autor: ;half;
ZAGREB, July 21 (Hina) - The Agrokor concern on Friday signed a financial arrangement worth EUR475 million with a syndicate of five banks -- ABN AMRO Bank, Bank Austria Creditanstalt, Raiffeisen Zentralbank Oesterreich, PBZ, and Societe Generale - Splitska Banka.
ZAGREB, July 21 (Hina) - The Agrokor concern on Friday signed a financial arrangement worth EUR475 million with a syndicate of five banks -- ABN AMRO Bank, Bank Austria Creditanstalt, Raiffeisen Zentralbank Oesterreich, PBZ, and Societe Generale - Splitska Banka.

The arrangement includes two contracts, one worth EUR325 million, with a five-year repayment period and a five per cent interest, and one worth EUR150 million.

The funds will be used to service Agrokor's EUR230 million bond with an 11 per cent interest and to service short term debts.

Agrokor president Ivica Todoric said the arrangement would further stabilise the concern and enable development on the domestic market and in the region.

He recalled that in the last month Agrokor signed three important contracts, one with the European Bank for Reconstruction and Development, which invested share capital in Agrokor, one with the World Bank's International Finance Corporation, and today's contract.

(Hina) ha

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