Atlantic Group agrees more favorable loans with EBRD and IFC - Loan totals EUR 191, 5 m

Croatian Atlantic Group with the European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC) agreed more favorable loan conditions, with extended credit terms of two years, i.e. until 2021.

New agreement is, the company communicated, "result of continuous fulfillment of all previous commitments, thoughtful strategy and successful business results based on which Atlantic Group confirms even stronger confidence of financial community in Croatia and abroad."

Amendments further reduced risk assessment of investments so conditions for contracting significantly more favorable credit arrangement were generated. New agreement includes a syndicated loan of EBRD and partner commercial banks, IFC's loan and parallel bilateral EBRD loan to finance investment in construction and equipping of modern factory for production of protein bars in Nova Gradiska.

Otherwise, total loan package totals EUR 191.5 m, where EBRD with partner banks from groups such as Erste Bank, Raiffeisen Bank, Sberbank and Unicredit bank participates with EUR 146 m, IFC participates with EUR 38 m, while EBRD in parallel bilateral loan for investment in Nova Gradiska participates with EUR 7,5 m.