/[corp_html]/news/43.html
This is repository of my old source code which isn't updated any more. Go to git.rot13.org for current projects!
ViewVC logotype

Contents of /news/43.html

Parent Directory Parent Directory | Revision Log Revision Log


Revision 1.2 - (show annotations)
Sat Mar 3 08:32:51 2001 UTC (23 years, 1 month ago) by dpavlin
Branch: MAIN
CVS Tags: HEAD
Changes since 1.1: +1 -1 lines
File MIME type: text/html
added missing mailto:

1 <p align="center"><b>PLIVA signs USD 85 m Credit Facility Agreement with EBRD
2 and IFC</b></p>
3 <p> PLIVA d.d.(PLIVA) today announced that it signed a credit facility agreement
4 (The Agreement) with the European Bank for Reconstruction and Development (EBRD)
5 and the International Finance Corporation (IFC) on 17 November 2000.</p>
6 <p> The loan will be used for the construction and equipment of PLIVA ’s New Research
7 Institute (NRI) in Zagreb, whose construction is currently underway and which
8 is expected to be operational by the end of 2002. The NRI should significantly
9 increase PLIVA ’s capacity in research and development, improving its efficancy
10 in the discovery of new chemical entities as well as development of generic
11 drugs with added value. In addition, this facility will enable PLIVA to meet
12 the highest regulatory standards in development of new pharmaceutical forms.</p>
13 <p> The total negotiated facility amounts to USD 85 m, which is composed of three
14 parts. The first part of the facility represents a direct loan from EBRD and
15 IFC in the amount of USD 50 m, with a maturity of 7 years and grace period of
16 18 months. The second component represents a loan provided by Bayerische Hypo-und
17 Vereinsbank, PLIVA ’s advisor in the transaction, in the amount of USD 25 m,
18 with a 6 year maturity and 18 month grace period.The third portion represents
19 a convertible loan from IFC (principal convertible into PLIVA treasury shares)
20 in the amount of USD 10 m, with a 6 year maturity. The average cost of the credit
21 facility will be LIBOR + 145 basis points.</p>
22 <p> Following signing of the Agreement, Zeljko Peric,PLIVA ’s Chief Financial
23 Officer, commented: “We are very satisfied with the terms of the Agreement,
24 which we believe clearly demonstrate our creditors’ long term faith in PLIVA.
25 Furthermore, given that the credit is unsecured, we find the price and maturity
26 of the loan very attractive”.</p>
27 <p> For additional information, please contact: </p>
28 <p>Erika Kaspar <br>
29 Vice President, Corporate Affairs and Communications<br>
30 Tel: 385 1 6120 755 <br>
31 Fax: 385 1 6114 413 <br>
32 E-mail: <a href="mailto:erika.kaspar@pliva.hr">Erika.Kaspar@pliva.hr</a></p>
33 <p> Marija Mandic<br>
34 Financial Analyst<br>
35 Tel: 385 1 6160 355<br>
36 Fax: 385 1 6120 634<br>
37 E-mail: <a href="mailto:marija.mandic@pliva.hr">Marija.Mandic@pliva.hr </a></p>

  ViewVC Help
Powered by ViewVC 1.1.26