The Slovenia Times

Bad bank takes EUR 710m in loans to reduce financing costs


The loans will be used to fully settle the obligations related to bond issues worth a total of EUR 548.7m and a EUR 169m bank loan, the state-owned bad bank said in a press release.

The BAMC has signed a EUR 560m syndicated loan contract with NLB, Abanka, Intesa Sanpaolo, NKBM and Unicredit banka Slovenije, a EUR 100m contract with Sberbank and a EUR 50m contract with Erste Group Bank.

The loans will be repaid in quarterly instalments, with the last falling due in mid-December 2022, with an option of early repayment. They are secured with a state guarantee for which the BAMC will pay a 1% fee.

In total, the bad bank will have repaid EUR 1.11bn in financial obligations this year. Its debt will stand at EUR 877m at the end of the year.

"With a lower interest rate for the loans taken, the BAMC has reduced future financing costs and its indebtedness," the press release says.


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