Vetropack Moravia Glass (VMG) of Kyjov has signed a contract for a Kcs 1.25 bn syndicated loan, the company announced recently.
The loan has been arranged by five banks, according to the company“s …
Vetropack Moravia Glass (VMG) of Kyjov has signed a contract for a Kcs 1.25 bn syndicated loan, the company announced recently. The loan has been arranged by five banks, according to the company“s PR company, Fair Agency, and will consist of a five-year Kcs 850 million tranche, and a two-year Kcs 400 million revolving tranche. Raiffeisenbank is the agent for the five-year portion of the loan, while Bank Austria Creditanstalt CR is the agent for the two-year loan. The deal also involves Raiffeisen Zentralbank Osterreich AG, Raiffeisenlandesbank Oberosterreich GmbH, and Zivnostenska banka. VMG belongs to the European glass producers group Vetropack, based in Switzerland. VMG produces 50% of glass packaging for the Czech food industry and exports half of its output. It has a fully automated production plant, and can produce 700 tonnes of packaging glass in a 24-hour period.