(LON) Kazakh RG Brands signs $50M syndicated EBRD loan
June 9, 2008
The European Bank for Reconstruction and Development (EBRD) announced on Monday it has agreed a $50 million loan for Kazakh drinks company RG Brands.
The EBRD will provide half of the seven-year loan to KEGOC with the remaining $25 million syndicated to arrangers Cordiant Capital and RZB, and manager Raiffeisenlandesbank Niederosterreich.
Proceeds will be used to finance the construction of a greenfield production, warehousing and logistics facility for RG Brands’ carbonated soft drink and juice production businesses, and for the refinancing of certain debt obligations.
The new plant will relocate the main, capacity-constrained production base from its current downtown Almaty location to a greenfield site currently under construction in an industrial park in the outskirts of the city.
RG Brands had revenues of over $200 million and EBITDA of $30 million in 2007.