EBRD to extend 60 mln euros loan to Bulgarian Eurohold

EuroHold Bulgaria AD

09/06/2021 16:55

SOFIA, June 9 (Reuters) - The European Bank for
Reconstruction and Development (EBRD) said on Wednesday it would
extend up to 60 million euros ($73.10 million) in a five-year
senior loan to Eurohold  EUBG.BB  for its acquisition of Czech
CEZ's  CEZP.PR  Bulgarian assets.
    Bulgarian financial and insurance group Eurohold will use
the proceeds from the EBRD loan, along with a planned capital
increase and other senior loans to complete its 335 million euro
deal with CEZ by the end of June.  urn:newsml:reuters.com:*:nL2N2NK0JC 
    Eurohold has mandated JP Morgan to structure the debt
financing for the overall acquisition, which it sees at about
490 million euros. The EBRD estimated the total costs at 525
million euros.
    Part of the proceeds of the EBRD loan will be used for
upgrades at a power distributor Eurohold will acquire, the EBRD
said in a statement. 
    ($1 = 0.8208 euros)

 (Reporting by Tsvetelia Tsolova; Editing by David Gregorio)
 ((tsvetelia.tsolova@thomsonreuters.com; +359-888-311-435;))