Ambitious Russian lessor Europlan has received a further $25m
(€15.8m) loan following a spate of cash injections into the company
over recent months.
The loan, provided by subsidiaries of ICICI Bank, India’s second
largest bank, will be used by the lessor to buy and lease cars and
equipment.
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As well as specialising in real estate and equipment leasing,
Europlan is also one of Russia’s largest car leasing companies with
vendor finance programmes with Mercedes-Benz, Mitsubishi, Nissan,
Renault, PSA and Volkswagen.
The three year loan, which is sourced partly from ICICI Bank
(UK) PLC, the UK subsidiary of the Indian bank, follows a series of
recent borrowings by Europlan, including a €60m financing from KfW
IPEX-Bank and a $110m (€69.6m) senior secured amortising term loan
facility from Citigroup, Raiffeisenbank and Credit Europe.
Europlan was founded in 1999 and is owned by Baring Vostok
Capital Partners and Capital International Inc. It signs around
2,000 contracts per month and has around 25,000 vehicles on
lease.
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