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New Polish loan is biggest yet to leasing sector
The European Bank for Reconstruction and Development (EBRD) has put together a €55 million syndicated loan for Poland's biggest leasing company, Europejski Fundusz Leasinggowy S.A. (EFL). The proceeds will be used mainly to finance new leases -- for everything from cars to office equipment -- for thousands of small and medium-sized Polish enterprises.
Under the deal, which is the largest EBRD loan ever to the leasing sector, the Bank will advance a four-year loan of €35 million, with a group of commercial banks providing €20 million with a three-year maturity.
"Leasing is an important, yet not fully tapped, source of SME financing in central and eastern Europe," said Jonathan Woollett, a Director on the EBRD's Financial Institutions team. "This loan provides EFL with medium-term Euro funding from a group of banks to support the operations of Poland's largest independent leasing company targeting the SME sector."
Lorenz Jorgensen, the EBRD's Director for Syndications, added that the facility would "constitute the largest EBRD loan to the leasing sector in the region."
Jakub Malski, EFL's Vice President, said: "EFL is pleased that the EBRD loan will finance its growing portfolio. EFL considers this deal an acknowledgement of its position as a large independent European leasing company."
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