TURKEY: Efes Breweries International seeks $200m loan deal
Efes Breweries International is seeking a US$200m bank loan to help it refinance an existing $300m loan that is due for repayment in September.
Turkey-based Efes, part of the Anadolu Efes group, said today (27 April) that it has mandated HSBC Bank to arrange 3-year loan of $200m.
"The facility will provide long-term refinancing of part of the $300m syndicated loan, which is due in September 2009," said Efes, wihtout giving further details.
Earlier this month, Efes recorded a net loss of $57.4m in 2008, against a net profit a year earlier of $37.5m. The brewer said that it planned to cut capital expenditure in 2009 to around half of 2008 levels.
Anadolu Efes has closed its bid to acquire the remaining shares it does not already own in Efes Breweries International, after upping its stake by only 3.5%....
Anadolu Efes, the Turkish beer and soft drinks giant, has posted a slide in half-year profits, hurt by a fall in pre-tax profits in the company's international beer division....
A shrinking Russian beer market has led Efes Breweries International to report a decline beer sales for the first half of 2009....
Efes Breweries International is to acquire a further 6.7% stake in its Russian subsidiary Krasny Vostok Brewing Group for US$30m....
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