MCI Capital and ING Bank Śląski signed an agreement to increase credit financing to PLN 200 million.
– It is a renewable credit line used to finance the broadly understood investment and operating activities of MCI. As part of this agreement, we managed to increase financing by PLN 26.75 million, i.e. to the full amount of PLN 200 million – says Ewa Ogryczak, Vice-President of the Management Board of MCI. – At the same time, we extended the entire financing by 1 year, thanks to which we have an active credit line for PLN 200 million to be used over a period of 3 years – she adds.
For several years, MCI, together with ING Bank, has been building solutions that better and better reflect the specificity of the operations of the entities from the MCI Group, which, due to their unique fund nature, need special solutions. The current credit line, with its flexibility, commitment character and attractive financial conditions (margin vs commitment fee), perfectly fits the needs of MCI as an investor in PE funds.
– We are glad that partners appear on the Polish capital market with whom we are able to engage in an informed conversation about financing the needs of entities such as MCI, and even more, jointly building solutions that still function on the Polish market to a very limited extent – says the vice-president MCI.
– In the next step, we will want to start work on NAV finance for the MCI.EV fund – i.e. typical financing of the fund’s investment activities operating on Western markets, for the time being practically inactive as a product in Polish financial institutions. Although it will certainly be a more difficult project, we are convinced that we will also be able to close this financing – sums up Ewa Ogryczak.