May 30, 2019 / 12:28 PM / a month ago

Slovenia's Mercator secures refinancing with Russian VTB bank

LJUBLJANA, May 30 (Reuters) - Slovenian food retailer Mercator, majority owned by Croatia’s Agrokor , has agreed a super-senior facility refinancing with Russian VTB Bank SE worth 80 million euros ($89 million), Mercator said.

“By signing the contract..., VTB has expressed its solid support and confidence in the success of the Mercator Group’s operations,” Mercator said in a statement on Thursday.

It gave no details of the deal but added it was made at “considerably better terms” without elaborating.

Mercator and its indebted owner Agrokor are in the process of major restructuring.

$1 = 0.8981 euros Reporting by Marja Novak Editing by Edmund Blair

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