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EBRD mulls $100 mln loan to fund Louis Dreyfus ops, including in Bulgaria, Romania

Author Mario Tanev
EBRD mulls $100 mln loan to fund Louis Dreyfus ops, including in Bulgaria, Romania oticki/Shutterstock.com

SOFIA (Bulgaria), June 20 (SeeNews) - The European Bank for Reconstruction and Development said on Thursday it will consider the possibility of lending $100 million (88.6 million euro) to Louis Dreyfus Company to finance the working capital needs of the agriculture group's units in eight countries, including Bulgaria and Romania.

The EBRD will consider providing a three to five year revolving loan in order to finance part of the working capital needs of Louis Dreyfus' subsidiaries estimated at some $300 million, the international lending institution said in a statement.

"The project will provide stable working capital financing for merchandising activities in countries where liquidity can be a constraint," the EBRD said. 

The working capital needs of Louis Dreyfus' units are seasonal and cover the purchase of agricultural commodities at prices that fluctuate throughout the year, the bank noted.

Louis Dreyfus Company is active in over 100 countries worldwide, originating, processing, merchandising and transporting approximately 80 million tons of products annually.

($ = 0.8858 euro)

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