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.