March 16 (SeeNews) - Slovenian steel producer Slovenska Industrija Jekla (SIJ) said on Thursday two of its units have closed a new 240 million euro ($257.2 million) syndicated loan to refinance the existing loan portfolio and ensure long-term financing for investment programmes aimed at production efficiency, environmental projects and energy efficiency.
SIJ Acroni and SIJ Metal Ravne closed the deal with seven banks with UniCredit Group acting as a coordinator, mandated lead arranger, documentation agent as well as facility and security agent, SIJ said in a filing with the Ljubljana bourse.
The consortium of banks besides UniCredit comprises NLB, the European Bank for Reconstruction and Development (EBRD), SKB, Nova KBM, ERSTE AG and Addiko Bank.
"This new loan ensures both steel companies long-term funding, enabling further financial strength, growth and development. All banks recognised SIJ Group as strong financial partner, with proven operational results, strong profitability and robust business model", Igor Malevanov, member of the management board and CFO at SIJ, said in a press release.
The SIJ Group is the largest Slovenian vertically integrated metallurgical group, whose products occupy leading positions on the European and global niche steel markets. The Group consists of two core business areas – metallurgical and food processing industry, almost 50 subsidiaries in Europe, US and Asia, and around 7,200 employees.
($=0.933161 euro)