January 24 (SeeNews) - Slovenian retailer Mercator [LJE:MELR] has pledged assets as additional security for the 480 million euro ($544 million) loan extended by Croatia's Fortenova Group to refinance senior debt, it said.
On January 20, Mercator pledged certain additional real estate to secure the 480 million euro loan for the benefit of Fortenova, the successor to collapsed Croatian food-to-retail concern Agrokor, the company said in a filing with the Ljubljana Stock Exchange on Friday.
In October, Mercator pledged for the benefit of Fortenova all of its shares in subsidiary Mercator-Emba and also assigned to the Croatian group its current and future bank account receivables, as well as the ones of Mercator-Emba, Mercator IP and M - Energija, while a month later it provided real estate.
Mercator borrowed in October a total of 94.9 million euro from Fortenova under a 480 million euro loan made available in April 2021. In April, Mercator utilised 385 million euro of the loan to refinance debt.
Mercator had been part of Agrokor from 2014 until April 2019, when all Agrokor assets except Mercator were transferred to Fortenova under a debt settlement agreement with Agrokor's creditors.
($ = 0.88216 euro)
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