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EBRD’s first syndicated loan in Mongolia

Written on August 11, 2008 – 10:27 am | by info |

www.maximnews.com reports that,

KATHY SHANDLING:   07/08/2008 (MaximsNews Network)

UNITED NATIONS - /  MaximsNews Network / 7 August 2008 –  The EBRD is making its first syndicated loan in Mongolia. The development bank is providing a US$13 million credit to MCS Coca-Cola LLC, a privately-owned local soft-drinks producer, in order to help the company to expand its production, broaden its product range, and most importantly, improve its wastewater treatment and recycling processes.

The EBRD is providing US$7 million with the remaining US$6 million to be raised through syndication under the EBRD’s A/B loan structure.

MCS will use the funds to construct a greenfield bottling plant which will increase MCS’ production capacity. The EBRD funds will also be applied towards the financing of a new wastewater treatment and recycling plant that will also be used by a neighboring MCS-APB brewery.

The new plant will allow the Company to recycle water up to five times prior to discharge to the municipal sewage system (once treated).

MCS, which holds the franchise for Coca-Cola products in Mongolia, is one of the largest private companies in the country. According to the President of MCS Holding LLC, this expansion project partially funded with EBRD support will help take the company’s business to a different level and promote local manufacturing, employment, and environmentally friendly production.

This first EBRD syndicated loan to a private Mongolian company is expected to demonstrate the advantages of gaining access to long term commercial funds. It is anticipated that other similar projects may follow.

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