Loans can be secured or unsecured and offer different levels of subordination. Depending on the project, loans may even depend on the growth of the business. Loan prices reflect the EIB`s favourable financing conditions in the market against flexible loans to finance an investment programme consisting of smaller projects. The loan will pursue pre-defined objectives and will be consistent with one or more EIB priorities. Oncopeptides AB has entered into a loan agreement with the European Investment Bank (EIB) which gives it access to an unsecured loan facility of up to 40 million euros. L. Baranyay, EIB Vice-President, said: “Supporting the financing of projects carried out by SMEs and ETIs is the EIB`s central objective in Slovenia, as the SME and ETI sector is the engine of growth and innovation. As part of its collaboration with SID banka, the EIB`s main partner and a major player in the Slovenian economy, the EIB ensures that the benefits of lending reach eligible promoters. The loan facility is divided into three tranches, with a maximum duration of five years, which become available, provided that the entity passes certain steps in the commercialization of melfluf in the United States and the EU. When the entity uses the facility, the EIB is entitled to a predetermined number of oncopepide warrants, in addition to interest on the loan amount. Share warrants are divided into three tranches and, assuming full use under the loan facility, the EIB is entitled to obtain guarantees equivalent to 0.7% of the company`s total shares on a fully diluted basis. The total number of share warrants is issued by oncopeptides` Board of Directors, in accordance with the authorization granted by the 2020 General Meeting, and any relevant tranche is notified to the EIB following the company`s possible decision to benefit from the corresponding tranche of the loan.
The European Investment Bank (EIB) provides two loans to the Slovenian Export and Development Bank: according to Sibil Svilan, Chairman and CEO of Sid Banka: “Most of the SME lending is used to finance the special siD Banka programme – the Slovenian government`s EUR 500 million SME programme, which serves as a financial instrument by mixing public and private funds to provide urgent financing to the Slovenian economy. And with the energy efficiency and renewable energy loan, we will complement and enhance existing measures to stimulate investment in this area. Coverage of risks related to large and small projects and Oncopeptides loan portfolios signs a loan agreement of 40 million euros with the EIB We typically cover up to 50% of the total cost of a project with loans starting at 25 million euros and even, in some cases, smaller amounts. news.cision.com/oncopeptides-ab/r/oncopeptides-signs—40-million-loan-agreement-with-the-eib,c3215909 The loan can be used to continue to support the clinical development of melfluf and the transition of the research and development company to a fully integrated global biopharmaceutical company. Stockholm, Oct.