EBRD prepared to provide EUR170m to Azerbaijan project

EBRD prepared to provide EUR170m to Azerbaijan project
Published: 30 March 2009

The European Bank for Reconstruction & Development (EBRD) is ready to look at financing Kiln Line 6 for Azerbaijan’s, Garadagh Cement OJSC.

The Bank informs that the EBRD Board of Directors is prepared to consider the issue financing of EUR 170m for this project valued at EUR330m.

The EUR 170 million structured corporate loan with a senior A/B loan of EUR150m, of which approximately 50% will be offered to commercial banks (B lenders), and a EUR20m subordinated C loan for EBRD’s account. An additional EUR 30 million loan subordinated to all bank debt is to be provided by Holcim - the main shareholder of GC