EBRD to consider increasing credit line to Astarta up to USD 80 mln
15 June 2011
The European Bank for Reconstruction and Development plans to look at extending its credit line to Astarta (WSE: AST PW) up to USD 80 mln at a July 12 board meeting, according to an announcement posted to the EBRD website yesterday. Astarta plans to use loan proceeds to consolidate existing EBRD loans and provide additional long-term financing to develop agricultural and sugar infrastructure, as well as expand its land bank and construct a dairy farm. The EBRD has provided three loans to Astarta: two USD 20 mln credit lines in 2008 and 2009 and one EUR 10 mln facility in July 2010.
