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Serbian Farmakom Gets €120M Loan

Serbian diversified group Koncern Farmakom MB has secured a credit facility worth €120 million from a consortium led by the International Finance Corp.

Serbian diversified group Koncern Farmakom MB has secured a credit facility worth €120 million from a consortium led by the International Finance Corp. (IFC), Bloomberg reports. The company, which has mining, agriculture, retail and dairy units, will utilize the facility for restructuring its balance sheet and for expanding its operations.

Of the total loan, the IFC provided €40 million of the credit, Erste Group Bank gave €30 million and Belgrade-based Komercijalna Banka provided €35 million. The remaining €5 million came from Cacanska Banka and €10 million from the Serbian unit of Banca Intesa. The eight-year credit facility has a two-year grace period.

Click here for the story from Bloomberg.

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