According to bank provided information, the investment involves the provision of EUR 6 million senior secured loan (with 1.5-y grace) to Lamatem SARL, an existing client of the Bank, to support new capex programme in production of medical garments and single-use personal protective equipment (PPE).
Lamatem's existing facility, supported by the first EBRD loan in 2019, started its operations in Q3 2019, mainly as a toll manufacturer for Molnlycke, a leading global supplier of medical solutions based in Sweden. In response to the changing market environment, the Borrower has now launched a new capex programme to meet increasing demand from Moroccan clinics and its new European clients. The programme also includes new product segments of which a sterilization process.
The Bank's new financing in the amount of EUR 6m complements the first EUR 7.7m loan extended in 2019.
The initial financial plan supported the set-up of the first plant in 2019 in the amount of EUR 12.8m. The new capex plan in the amount of EUR 8m includes expansion of the existing facility and the introduction of new activities of which a sterilization process.
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