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Croatia Atlantic Grupa in Talks With EBRD, IFC to Refinance Debt

Atlantic Grupa (ATGRRA), a Croatian foodmaker and retailer, said it’s negotiating with the European Bank for Reconstruction and Development and the International Finance Corporation for a loan to refinance long-term debt.

A new loan would amount to as much as 300 million euros ($388 million) and be used to refinance the company’s debt on the Croatian, Serbian and Slovenian markets, the company said in a statement to the Zagreb stock exchange late yesterday.

The EBRD, along with commercial banks, would participate for as much as 245 million euros, while the IFC would cover the rest, it said.

To contact the reporter on this story: Jasmina Kuzmanovic in Zagreb at jkuzmanovic@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

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