Croatia's Pliva obtains $250 million syndicated loan

By Reshmi Basu

New York, Oct. 29 - Pliva d.d. said it obtained a $250 million dual currency term loan facility.

Borrowings can be either in dollars or euros and are at a margin of 70 basis points. The facility will amortize over a five-year period.

Funds will be used for refinancing of short-term debt and for operational purposes.

The facility was oversubscribed with committed funds from 15 institutions.

Bank Austria Creditanstalt and Citigroup arranged the loan.

Pliva, based in Zagreb, Croatia, is a pharmaceutical company.

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