Business News

Port Operator Gets EUR 35M EIB Loan

Koper, 07 April (STA) - Port operator Luka Koper got a EUR 35m 20-year loan from the European Investment Bank (EIB) that will be used to finance the expansion of the container terminal and extend debt maturity, the company said Thursday.

The loan will reduce financing costs and the weighed average cost of capital, and "significantly extend the average maturity of debt financing," the operator of the Port of Koper said in a statement.

The EIB approved the loan without collateral but with the commitment that it may request collateral or make a margin call if total dividend payments exceed 50% of net profit for the year.

This means, according to Luka Koper, that the dividend policy will not change.

Container transshipments are a key business for the Koper port and they surged 39% last year to 476,731 units, making Koper the biggest container port in the north Adriatic.

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