Cognor with €20 mln loan from EBRD

WSE-listed steel producer Cognor will get a €20 million loan from the European Bank for Reconstruction and Development. The funds will be used to modernize its operations, invest in resource efficient equipment and refinance senior secured notes. The loan is part of a larger €69 million syndicate. “The EBRD loan is part of a larger financing package provided alongside other financial institutions. It will finance operational restructuring with the goal of moving towards higher value-added products, more resource-efficient production processes and financial restructuring by means of lowering financial expenses,” EBRD said.