Zentiva takes EUR 550 mln loan, Citi arranges

19.06.2007 | , Reuters
Zpravodajství ČTK


perex-img Zdroj: Finance.cz

PRAGUE, June 19 (Reuters) - Czech generic drugs maker Zentiva said on Tuesday it had closed a deal to take a 550 million euro, multi-currency...

...syndicated loan package.

It said the loan, arranged by Citibank, would be used to finance the acquisition of a 75 percent stake in Turkish drug company Eczacibasi Generic Pharmaceuticals and restructure existing debt.

The package contains two Czech crown loans with three and five-year maturities, two euro-denominated loans, also with three and five-year tenure, and revolving loans in both currencies.

Zentiva said the loans would be priced at 40 to 75 basis points above the PRIBOR and the EURIBOR rates.

The company said it expected to close the Turkish acquisition on July 2.

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