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Home Breaking News EPH has entered into a billion-euro loan agreement with international banks

EPH has entered into a billion-euro loan agreement with international banks

Updates: 30.03.2021 14:25

Prague – The Energy and Industrial Holding (EPH) of the entrepreneur Daniel Křetínský has concluded a new loan agreement with a group of international banks in the amount of one billion euros (about 26 billion CZK). The step is to simplify the structure of its financing. The spokesman of the holding, Daniel Častvaj, informed ČTK today. Based on the information available to EPH, this transaction is one of the largest bank financing realized this year on the Czech credit market.

According to Častvaj, EPH concluded the agreement with a syndicate of international banks and Komerční banka as a loan agent. The bank’s syndicate consists of, inter alia, Bank of China (CEE) Ltd., COMMERZBANK Aktiengesellschaft acting through COMMERZBANK Aktiengesellschaft, Prague Branch, Credit Suisse AG, ING Bank NV, Prague branch, Komerční banka, as, SMBC Bank EU AG and UniCredit Bank Czech Republic, and Slovakia as Citibank Europe plc is in the position of the so-called authorized head arranger.

The legal advisor to the creditors was the law firm Baker & McKenzie. The credit lines are provided as unsecured with an equivalent position to other financial indebtedness of EPH and are due three years from the signing of the loan agreement. EPH assumes the use of drawn loans primarily for the partial refinancing of other financial indebtedness of the EPH Group and for general corporate purposes.

“This is another breakthrough transaction of the EPH Group leading to the simplification of its financing structure, support of its future growth and at the same time will enable us to implement our sustainability strategy,” said Pavel Horský, Chief Financial Officer and Member of the EPH Board of Directors.

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EPH was founded in 2009. The companies that are part of the EPH group employ around 25,000 people. The holding includes over 70 companies throughout Europe. According to last year’s ranking of Forbes magazine, Křetínský is one of the richest Czechs with assets worth 78 billion crowns.

Last December, the Slovak financier and one of the founders of the J&T group, Patrik Tkáč, returned to the shareholder structure of EPH. It currently owns 44 percent minus one share of the holding. The majority share still belongs to Křetínský and a group of managers who hold 56 percent and one share in EPH. Křetínský, who exercises managerial control over the holding, indirectly owns 50 percent of the company’s shares and one share.

World Finance Energy Bank EPH



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