Banks open €140 mln credit line to Bonafarm
CIB Bank and Raiffeisen Bank on Thursday opened a five-year €139.8 million credit line to Hungary's biggest agribusiness Bonafarm Group, owned by food industry magnate and CEO of OTP Bank Sándor Csányi, Raiffeisen Bank said on Thursday.
The agreement on refinancing Bonafarm's long-term loans was signed on June 17, 2011. CIB Bank and Raiffeisen Bank are taking equal parts in the transaction.
In addition to refinancing Bonafarm's operation, the credit line will be used to refinance earlier investments as well as further investments.
ADVERTISEMENT
Households Make Net Withdrawals in April
Parl't Approves Amendments to Legislation on Judiciary
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
.jpg)
