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Slovenia's MLM granted loan repayment relief - report

Jun 17, 2024, 2:52:02 PMArticle by Radomir Ralev
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June 17 (SeeNews) - Slovenian sovereign holding SDH has approved a temporary suspension of the loan repayments by troubled metal products manufacturer Mariborska Livarna (MLM) to help the company avoid insolvency, local media reported.

Slovenia's MLM granted loan repayment relief - report
Source: Mariborska Livarna

SDH, together with creditors Gorenjska banka and SID banks, has agreed to a delay in repayments until the end of September, public broadcaster RTV reported on Friday.

Earlier this month, SDH offered to sell MLM to Maribor municipality for 1 euro and said it is ready to provide а loan of up to 5 million euro ($5.4 million) for the continued operation of MLM in addition to rescheduling the repayment of its existing debt.

MLM has been facing difficulties stemming from the Covid-19 pandemic, supply chain disruptions, the energy crisis, and declining car production in Europe. The company has been granted a total of 13.3 million euro in direct state aid, disbursed in installments since 2009, with the most recent installment provided in 2020.

In September 2023, the Slovenian government said it could no longer extend aid to MLM and the company needed a new owner to avoid bankruptcy.

($ = 0.93319 euro)

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