Coal Energy pledges assets against a USD 70 mln EBRD loan



19 лютого 2013 года
Конкорд Капитал

Coal Energy (CLE)


Coal Energy (CLE PW) announced on Feb.15 that it pledged several assets as collateral against a USD 70 mln EBRD loan approved in December 2012. Firstly, majority shareholder Lycaste Holdings pledged a 15% stake valued at USD 26 mln (of its total 75% stake in Coal Energy). Secondly, the movable and immovable property of the company’s waste recovery plant was offered as collateral. And thirdly, Coal Energy pledged an unspecified amount of its bank deposits and export contracts.



Roman Topolyuk: Providing collateral was one of the prerequisites for obtaining the USD 70 mln EBRD loan, which was issued at 5.85% over 6M Libor for seven years, according to the December agreement. With the new facility, Coal Energy will be able to refinance its current, more expensive loans, as well as pursue expansion projects, including the construction of a second waste recovery facility and beneficiation factory, as well as a boost in coal mining mechanization.

Источник: Конкорд Капитал

Аналитик: Роман Тополюк


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