A proposed EUR30 million syndicated loan to DVI International (Deutschland) GmbH and DVI Financial Services (as co-borrowers, together as DVI) under a standard A/B loan structure. The proceeds of the loan would be applied towards financing leases of medical equipment by hospitals and diagnostic centres in Poland, Hungary, Czech Republic and the Baltic countries.
Project objectives: To provide long-term financing to expand the company’s business in central and eastern Europe. The proceeds of the loan would be used to finance the leases of medical equipment by the local hospitals and diagnostic centres.
Health care reform is one of the main challenges facing the countries in transition. The development of this sector and introduction of market-oriented business practices has been slow due to the lack of capital available. Providing long-term financing to the leasing company with a well-proven track record will improve the quality of medical services in central and eastern Europe and support the reforms in the health care sector.
DVI is a leading provider of asset-backed financing in the health care sector. DVI has more than US$ 2.0 billion of assets under management and operates in the US, Latin America, South East Asia and Europe.
EUR30 million term loan, of which EUR10 million would be for the EBRD's own account with EUR20 million being syndicated to other lenders. The EBRD A-loan would be for a term of five years, the B-loan for three years.
DVI will carry out its operations in accordance with the EBRD's Environmental Procedures for Leasing. These provide for the integration of environmental due diligence into DVI's credit appraisal processes and a requirement that lessees comply, at a minimum, with national and local health and safety and environmental regulations and standards and public consultation requirements. DVI will submit annual environmental reports to the EBRD.
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Text of the PIP