The Belfast-based livestock nutrition group Devenish has unwound its largest debt owed to the European Investment Bank (EIB) after selling down assets and raising equity funding, new company information shows. Group companies have reported the lifting of charges held by the EIB over their shares, bank accounts and insurance contracts. Devenish had granted the security to the EU’s public bank in exchange for a credit facility of up to €40 million signed in 2018. On the group’s latest balance sheet as of May 31, 2023, the EIB loan had an outstanding amount of €32.4 million and accounted for the largest…
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