EBRD offers €10m in long-term financing to Greek firm Loulis Mills

The European Bank for Reconstruction and Development (EBRD) has approved €10m in long-term financing to Greek flour milling company Loulis Mills.

With the loan, EBRD has completed its first transaction in the region's agribusiness sector.

The funding will be used as additional working capital, as well as to refinance part of Loulis Mills's existing and maturing debt obligations.

EBRD Greece and Cyprus director Sabina Dziurman said: “This transaction is not only our first investment in the Greek agribusiness sector, but also the transaction that closes a very successful first full year of the EBRD’s operations in Greece, having signed some €800m transactions to date.

“The EBRD will continue to remain active in Greece and boost its efforts to support the Greek corporate sector in cooperation with local commercial banks and through mobilising other co-financiers.”

The EBRD participated in the purchase of a €40m bond loan facility alongside Alpha Bank, Eurobank and National Bank of Greece.

Loulis Mills chairman and executive director Nikolaos Loulis said: "Our company's development strategy has always been outward-looking. The EBRD’s engagement is recognition of the strength of our company and the potential to grow."

Listed on the Athens Stock Exchange, Loulis Mills produces more than 120 varieties of flour and bake mixtures, as well as caters the needs of home bakers to professional and industrial bakeries.

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Image: EBRD provides €10m in financing to Loulis Mills. Photo: courtesy of The European Bank for Reconstruction and Development.