Possible EBRD loan for Prista Oil Group BV

The EBRD is considering providing a senior loan of up to €50.5 million (A and B or parallel loan) to Prista Oil Group BV, a limited liability company incorporated and existing under the laws of the Netherlands, and Prista Oil Holding EAD, a limited liability company incorporated and existing under the laws of Bulgaria, and mainly involved in producing, distributing and selling lubricants on Bulgarian and European markets. The A loan would finance the expansion of the production facilities in Bulgaria and Hungary and investments into company’s multi-branding strategy consisting of creating network of branded services for lube drainage in a number of countries of the region. The B loan or a parallel loan would refinance the existing shareholders loan.

The transition impact potential of the Project derives from:

(i) Market expansion and increase competition: through a quick lubes programme Prista Oil will enhance distribution network in eight countries, offering its clients a variety of products and brands in one sales point.;

(ii) Setting high standards of corporate governance and business conduct including improvements of environmental performance. The Company will take steps towards improving its corporate governance as well as environmental and labour protection practices.

Prista Oil was established in 1993 in the North-Eastern Bulgarian city of Ruse, and over the years has grown to one of the major independent producers of lubricants and car batteries in Eastern Europe with sales in over 20 countries.

News source: EBRD link: article