EBRD to give first USD 18 mln to Sadovaya in February
4 January 2012
A subsidiary of Sadovaya Group signed a loan agreement with the European Bank for Reconstruction and Development for USD 36 mln at 3M Libor+6.5%. The loan facility matures in seven years and will be used to finance its coal waste recycling project, the company said yesterday. The first tranche of the loan, USD 18 mln, is scheduled to be disbursed in February 2012. Sadovaya also said it is planning to implement the first stage of its coal waste recycling project by installing two waste processing facilities in 2Q and 4Q of 2012.
