Launch of syndicated loan and extension of short term maturities
Sep 19, 2016
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
Agrokor D.D. ("Agrokor") has launched the syndication of a 3-year term loan facility with a final maturity of September 2019. BNP Paribas, Credit Suisse AG, London Branch, Goldman Sachs International, and J.P. Morgan Limited are acting as Joint Global Coordinators, Mandated Lead Arrangers, and Bookrunners on the transaction and have put anchor orders into the deal. The final size of the facility will be determined based on market demand. Proceeds from the syndicated loan will be used for refinancing and optimising Agrokor's debt capital structure.
The syndication is part of a wider refinancing exercise whereby Agrokor has already extended c. EUR 500,000,000 of short term debt by 2-3 years in various bilateral and club facilities with BNP Paribas, Credit Suisse AG, London Branch, Goldman Sachs International Bank, J.P. Morgan Securities plc, Sberbank Europe AG, and Sberbank of Russia. The arrangements are subject to certain conditions, including agreeing extensions under certain other financing arrangements, which are expected to be satisfied in the upcoming weeks.
Headquartered in Zagreb, Croatia, Agrokor D.D. is one of the leading food manufacturers, distributors, retailers and wholesalers in South-eastern Europe (comprising Albania, Bosnia & Herzegovina, Croatia, Greece, Kosovo, Macedonia, Montenegro, Serbia, and Slovenia). Following its 2014 acquisition of Poslovni sistem Mercator D.D., the Agrokor group is the market leader in food retail in all of its primary markets as well as #1 manufacturer of a number of food & beverage brands, and had 2015 revenues and EBITDA of €6.4bn and €554mm respectively.
Agrokor D.D. has a corporate rating of B2/B (Moody's/S&P).