LJUBLJANA, Dec 19 (Reuters) - Slovenian metal products maker Unior, which is due to be privatised, has received a loan of 112.8 million euros ($118 million) from a syndicate of banks, the company said on Monday.
“With the syndicated loan we repaid old loans, reduced the number of bank creditors ... improved conditions and opened a possibility for further growth of the company,” Unior’s CEO Darko Hrastnik said in a statement.
Shares in Unior, which has market capitalisation of about 50 million euros, jumped 7.5 percent to 18.8 euros by 1245 GMT, outperforming the blue-chip SBI index which was 1 percent lower.
The loan was organised by Slovenia’s largest lender, state-owned Nova Ljubljanska Banka (NLB).
The five other banks in the syndicate were Slovenia’s Abanka and Gorenjska banka, Nova KBM, which is owned by U.S. investment firm Apollo Global Management, and local subsidiaries of Italy’s Intesa Sanpaolo and Russia’s Sberbank .
Unior, which has almost 4,000 employees, exports 95 percent of its metal products, mainly to car factories. It also has a tourism division which accounts for 13 percent of its revenue.
Slovenian Sovereign Holding (SDH), a state-owned firm that is coordinating privatisations in the country, agreed with three other mostly state-owned firms in May to put their joint of 55 percent stake in Unior on sale.
Unior is one of at least five companies Slovenia wants to privatise next year with NLB the biggest on the list.
$1 = 0.9582 euros Reporting by Marja Novak; editing by David Clarke