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

Bulgaria's BACB to acquire 99.94% of Tokuda Bank

The Bulgarian-American Credit Bank said on April 16 it has agreed to acquire 99.94% of local Tokuda Bank from Japan-based Tokushukai Incorporated. The two banks are among the smallest in Bulgaria ... more

bne IntelliNews Southeast Europe Outlook 2024

This Southeast Europe Outlook 2024 has been prepared by bne IntelliNews as part of a series of annual reviews providing updates on the geopolitical, macroeconomic and commercial state of ... more

EBRD 2023: EBRD, EU and ILX to co-operate to boost private-sector finance in Emerging Europe

The European Bank for Reconstruction and Development (EBRD), the European Union, and ILX Management, an emerging market asset manager, have joined forces to enhance private-sector finance in Emerging ... more

Follow Us On

Most Read

  1. Ukraine's birth rate plummets to 300-year low as country’s population collapses
    5 days ago
  2. Russia’s war economy boosted by rising oil prices
    7 days ago
  3. Fresh evidence suggests that the April 2022 Istanbul peace deal to end the war in Ukraine was stillborn
    6 days ago
  4. Oil continues to flow to Israel via Turkey despite Erdogan’s vehement speeches on plight of Gaza
    5 months ago
  5. Iran vs Israel: Who is better equipped for war?
    9 days ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    23 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    28 days ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. BRICS announce a blockchain-based payment system to create a common currency
    26 days ago
  5. UBN: Russia could take the Baltic states in 48 hours
    1 month ago

Reports

Dismiss