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Samurai loan raised by Czech investor Kretinsky’s EPH for the first time, $527 million

Samurai loan raised by Czech investor Kretinsky’s EPH for the first time, $527 million

The Czech energy group EPH is controlled by billionaire Daniel Kretinsky. As part of its efforts to diversify access to funding, the company announced that it raised its first Japanese lending facility worth 80 billion Japanese yen (527 million dollars).

EPH announced in a Monday statement that the so-called Samurai Loan matures in Febuary 2030, and will pay an interest margin 160 basis points above the Tokyo overnight average (TONAR) rate.

The loan was coordinated by SMBC Group.

In a press release, Vice-Chairman Pavel Horsky stated that "we are pleased to have raised our first Samurai loan. This is an important milestone for the diversification of EPH’s funding model."

Horsky said that it was the biggest debut of a corporate borrower on the Samurai Loan market since the global economic crisis.

Kretinsky is a 49-year old former lawyer in an investment bank who has grown Energeticky a Prumyslovy Holding into one of Europe’s largest energy groups. He also expanded his investments in retail, media, and other areas in Europe over the past few years.

EPH reported earnings of 3.6 billion euro ($3.76 billion), before interest, taxes, depreciation, and amortization (EBITDA), on revenues of 24.2 billion euro in 2023. (1 dollar = 151.8500 yen; 1 euro = 0.9563 euros) (Reporting and editing by Clarence Fernandez).

(source: Reuters)