Elana Agrocredit to receive up to EUR 10m loan from EBRD (NEUTRAL)

05.06.2023 Source: Elana Agrocredit; FFBH

Elana Agrocredit announced that it entered into an agreement with the European Bank for Recovery and Development (EBRD) to receive loan of up to EUR 10m (two tranches of up to EUR 5m each). The first tranche of financing will be for EUR 5m with 5-year term and interest rate of 3.25% + 3M Euribor. The amount and interest of the second tranche will be announced at the moment of its absorption. Elana Agrocredit will use the funds to finance its business in 2023 and H1’24. The loan is collateralized by receivables from the company’s leases.