Croatia
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Agrokor, a Croatian retail, food and agriculture company, has enough funding to repay debt maturities this year despite a recently pulled loan syndication, according to Moody’s, but cash flow is low and addressing next year’s PIK notes will be critical to its rating. -
Agrokor, a Croatian retail, food and agriculture company, has abandoned its syndication of a three year term loan complaining of unfavourable terms.
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Croatian food and drinks maker Agrokor has refinanced €340m of loans from VTB Bank, marking the end of a €840m loan refinancing programme.
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Zagreb-headquartered food and drinks producer Agrokor launched a three year term loan into syndication this week. The deal is part of a wider refinancing exercise in which Agrokor has already secured €500m of short-term debt.
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Croatian food and pharmaceutical producer Podravka has agreed a €123m loan with the support of the European Bank for Reconstruction and Development.
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Croatia’s Zagrebački Holding completed a buy-back of nearly half of its outstanding Eurobonds on Thursday.
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Political turmoil has stopped from Croatia printing its planned euro Reg S issue, having completed a two day roadshow for the deal on Tuesday.
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After a bumper week in dollars, euros will be back on the CEEMEA table this week with PKN Orlen and Croatia wrapping up meetings on Tuesday. But the European Central Bank meeting on Thursday and US data on Friday is expected to keep issuance limited this week.
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Croatia has picked four banks for a euro-denominated bond and is embarking on investor meetings for the deal next week.
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Agrokor, the Croatian food and drinks producer and retailer, has secured a €200m club loan with four banks.
