EBRD to lend €60mn to Bulgarian Eurohold subsidiary for acquisition of CEZ’s local assets

By bne IntelliNews June 10, 2021

The European Bank for Reconstruction and Development (EBRD) said it will lend €60mn to Eastern European Electric Company B.V., a fully owned subsidiary of financial and insurance group Eurohold Bulgaria, which will be used for the acquisition of the local assets of Czech CEZ Group.

Part of the sum also will be spent on CEZ Razpredelenie Bulgaria AD's 2022-2024 digitalisation and distribution network upgrade programme.

The loan will have a five-year repayment period, the EBRD said but gave no further details.

Earlier in 2021, Eurohold was allowed to acquire the local assets of Czech company CEZ, financing the deal with its own funds and bank loans.

Eurohold has said that it will raise up to €100mn in a capital hike to fund the acquisition of the assets, with the total value of the deal being €335mn.

In April, the company said that it has mandated J.P. Morgan AG to act as its lead and exclusive arranger for structuring the debt financing of the deal for the acquisition of the CEZ’s local business.

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Tashkent Stock Exchange reports decline in 1Q24 trading volume

Tashkent Stock Exchange (TSE) has released its results for 1Q24, revealing a significant decrease in trading volume y/y. The results report, compiled by the TSE and Avesta Investment Group, ... more

EIF signs guarantee agreements with 11 banks in Western Balkans, unlocking €750mn for small businesses

The European Investment Fund (EIF), part of the EIB Group, said on April 15 that it has signed guarantee agreements with 11 banks and financial intermediaries in the Western Balkans. These ... more

UniCredit sees modest growth and fiscal overshoot for Hungary in 2024

Hungary’s economic rebound will be modest this year, around 2%, and the return to potential growth is set to be postponed to 2025 with GDP expanding around 3.2%, according to UniCredit bank's ... more

Follow Us On

Most Read

  1. Iran vs Israel: Who is better equipped for war?
    4 days ago
  2. Saudi Arabia to scale back plans for Neom city
    8 days ago
  3. BREAKING: Iraq, Syria and Jordan close airspace amid Iranian strike on Israel
    4 days ago
  4. Oil continues to flow to Israel via Turkey despite Erdogan’s vehement speeches on plight of Gaza
    5 months ago
  5. PANNIER: Caspian military drills that exclude Russia and Iran have some people in Moscow asking questions
    5 days ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    18 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    23 days ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. UBN: Russia could take the Baltic states in 48 hours
    28 days ago
  5. BRICS announce a blockchain-based payment system to create a common currency
    21 days ago

Reports

Dismiss