The European Bank for Reconstruction and Development (EBRD) has completed its first transaction in the agribusiness sector in Greece by providing €10 million long-term financing to Loulis Flour Mills.
The EBRD participated in the purchase of a €40 million bond loan facility alongside Alpha Bank, Eurobank and National Bank of Greece. The funding will finance additional working capital and refinance part of Loulis Mills's existing and maturing debt obligations.
Loulis Mills, listed on the Athens Stock Exchange, has a long and successful track record dating back more than 200 years. Today, the company employs state-of-the-art technology and produces over 120 varieties of flour and bake mixtures, meeting the demands of a wide customer base, from home bakers to professional and industrial bakeries.
Sabina Dziurman, EBRD Director, Greece and Cyprus, mentioned that: "This transaction is not only our first investment in the Greek agribusiness sector, but also the transaction that closes a very successful first full year of the EBRD’s operations in Greece, having signed some €800 million transactions to date."
Nikolaos Loulis, Chairman and Executive Director of Loulis Mills noted: "Our company's development strategy has always been outward looking. The EBRD’s engagement is recognition of the strength of our company and the potential to grow."
The EBRD started investing in Greece on a temporary basis in 2015 to support the country’s economic recovery. The Bank’s priorities are strengthening private companies and the financial sector, support for privatisation, infrastructure development and regional integration of the Greek economy.
View the EBRD Press Release here.
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