Europejski Fundusz Leasingowy EFL (debt)

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Syndicated loan of €55 million to Europejski Fundusz Leasingowy S.A. (EFL), including €35 million for the account of the EBRD, for the purpose of enabling EFL to expand its lease portfolio to small and medium-sized enterprises (SMEs) in Poland. The loan will support the development of Polish SMEs, have a positive impact on employment, mobilise co-financing from other financial institutions, and provide longer-term funding to EFL, enabling the company to optimise its asset and liability management and to increase its portfolio of leased assets with a longer useful life. EFL is Poland's largest independent equipment and vehicles lessor, serving SMEs in Poland. At 30 June 2000, EFL's total assets per US GAAP (Generally Accepted Accounting Principles) had reached PLN 1.47 billion (€351 million), with equity of PLN 531 million (€127 million) and annual net profit of PLN 43.7 million (€10.4 million). EFL has been listed on the Warsaw Stock Exchange since April 2000. Amortising syndicated facillity of €55 million, including a €35 million loan with a maturity of up to four years for the account of the EBRD and a parallel €20 million syndicated loan from commercial banks. €55 million EFL will ensure that transactions do not involve goods or activities listed on the EBRD’s Environmental Exclusion List for financial intermediaries, and that all leased assets meet, at a minimum, Polish health, safety and environmental regulations and standards. None.