BUSINESS

EBRD’s first agribusiness transaction in Greece

TAGS: Finance, Agriculture, Business

The European Bank for Reconstruction and Development (EBRD) on Monday announced it has successfully completed its first transaction in the agribusiness sector in Greece by providing 10 million euros in long-term financing to Loulis Mills, a leading company in the Greek flour milling industry.

The EBRD participated in the purchase of a 40-million-euros bond loan facility alongside Alpha Bank, Eurobank and National Bank of Greece.

The funding will finance additional working capital and refinance part of Loulis Mills’s existing and maturing debt obligations.

Sabina Dziurman, EBRD director for Greece and Cyprus, mentioned that “this transaction is not only our first investment in the Greek agribusiness sector, but also the transaction that closes a very successful first full year of the EBRD’s operations in Greece, having signed some 800 million-euro transactions to date. The EBRD will continue to remain active in Greece and boost its efforts to support the Greek corporate sector in cooperation with local commercial banks and through mobilizing other co-financiers.”

Gilles Mettetal, director of the EBRD’s agribusiness team, added: “We are happy to provide direct support alongside local commercial banks and enhance the resilience of the Greek private sector at this challenging time for the country. Greece has many good private companies and for them to thrive they need access to finance.”

Online