EBRD Finances Bulgaria's Billboard Printing House
Business | January 8, 2013, Tuesday| 1173 views
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The EBRD, owned by 61 countries and two intergovernmental institutions, was created in 1991 to invest in former communist countries to help them transform their economies. File photo
The European Bank for Reconstruction and Development has signed a EUR 5.5 M loan with Billboard AD, a major Bulgarian provider of printing and outdoor advertising solutions.
The EBRD loan will help the company improve its capital structure by increasing the share of long-term debt and matching the debt profile to current and future cash flows, the bank said in a statement.
A portion of this new funding will help complete Billboard's investments aimed to further broaden the company's product portfolio in its drive to meet increasing local and international demand.
Billboard is a publicly-listed company and together with its regional subsidiaries employs 440 staff.
The EBRD loan to Billboard is being arranged under the EBRD–Italy Local Enterprise Facility, an investment instrument providing long-term financing to small and medium-sized enterprises whose needs are not sufficiently addressed by existing financing facilities.
LEF was introduced in Bulgaria from January 2011, following several successful years in Albania, Bosnia and Herzegovina, Croatia, FYR Macedonia, Montenegro, Turkey and Serbia.
Since the beginning of its operations in Bulgaria, the EBRD has committed over EUR 2.5 B in 205 projects in various sectors of the economy, mobilizing additional investment in excess of EUR 5.7 B.
Tags: Italy Local Enterprise Facility, loan, billboard, EBRD, European Bank for Reconstruction and Development, LEF
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