October 1 (SeeNews) - Slovenian retailer Mercator [LJE:MELR] said on Friday it has taken out a 94.9 million euro ($111.5 million) loan from Croatia's Fortenova Group, the successor to collapsed food-to-retail concern Agrokor, to repay a super senior debt owed to VTB Europe.
The funding was drawn under a 480 million euro loan made available by Fortenova in April 2021 to refinance Mercator's senior debt, the Slovenian retailer said in a filing with the Ljubljana Stock Exchange.
In April, Mercator utilised 385 million euro of the loan to refinance debt, it said.
Mercator had been part of Agrokor from 2014 until April 2019, when all Agrokor assets except Mercator were transferred to Fortenova under a debt settlement agreement with Agrokor's creditors.
($ = 0.851125 euro)
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