Slovenian Gorenje earns 30m. € in loans

Slovenian Gorenje earns 30m. € in loans

 

Review by Christos T. Panagopoulos

Household appliance maker Gorenje signed on Thursday a contract for a EUR 30m long-term syndicated loan from the NLB bank and the SID exports and development bank. Each bank will contribute EUR 15m.

The contract was signed by NLB chairman Janko Medja, SID chairman Sibil Svilan and Gorenje chairman Franjo Bobinac, who said after the signing that the syndicated loan was proof of the two banks’ trust in Gorenje and its development strategy.

The loan has a five-year maturity and will not be counted in Gorenje’s total debt. Bobinac thus stressed that it would strengthen Gorenje group’s financial stability.

According to Bobinac, this is very important in the view of the difficult situation on the market and the restructuring at the company, which includes moving of production.

Svilan said the loan was part of SID’s role of encouraging the development of Slovenian companies, which increases competitiveness of companies that maintain and create jobs and contribute to Slovenia’s sustainable development.

Medja added that NLB follows actively and gives financial support to the most vital part of the Slovenian economy, which has kept development orientation despite the difficult situation in Slovenia and strong competition abroad.

Source: Slovenia Times