RUSSIA: Efes gets loan for purchase
Efes Breweries International has received the loan it has been chasing to pay for future growth. The brewer confirmed today (17 February) that it has received a US$500m bridge loan from Citigroup and HSBC, guaranteed by parent company Anadolu Efes.
The proceeds from the financing package will be invested in EBI's organic and inorganic growth plans, the company said earlier this week.
Part of the debt will be used to fund EBI's acquisition, announced last month, of Russian brewer Krasny Vostok Brewing Group. The purchase will cost EBI US$390m.
The credit is planned to be repaid by the end of this year through various alternative financial instruments.
Sectors: Beer & cider
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