DFF - Mlinar

complete

Provision of a structurally subordinated loan of up to EUR 15.0m with a seven-year tenor and bullet repayment at maturity (the "loan") to SEE Bakery Topco S.a.r.l. (the "borrower"), a limited liability company incorporated in Luxembourg that majority-owns key operating subsidiaries Mlinar Pekarska Industrija d.o.o (Croatia) and Hleb i Kifle d.o.o (Serbia) (jointly the "Group"). The proceeds from the loan will be used to primarily finance the payment of deferred consideration to the founder in connection with Mlinar's acquisition by Mid Europa Fund V. In turn, this will enable Mlinar (and its Serbian subsidiary Hleb i Kifle) to use the internally available and generated cash to implement the investment plan in Croatia and Serbia, which includes: (i) roll-out of new bakery stores; (ii) modernization and refurbishment of existing bakery stores; and (iii) purchase, installation, upgrade and maintenance of certain bakery production and other equipment.