UniCredit Bank offers its clients short, medium and loang term loan services adjusted to their business needs, in both domestic and foreign currencies.

A working capital loan is a loan with a borrowing limit that is provided to the Company, usually for a period of up to one year, for the purpose of financing of short term working capital needs.
A working capital loan can be either revolving or non revolving and committed or uncommitted loan.

  • Revolving loan allows a company flexibility to borrow funds when the need arises for the exact amount required up to approved limit, and to repay in the case of cash excess. Interest is paid only on the amount borrowed, typically on a monthly basis.
  • In the case of non revolving loan the company can draw full available limit which is repaid usually in equal monthly installments till expiry of loan maturity.

In the case of committed line the Bank has future obligation to provide approved loan amount, should the Borrower request it, until the expiry of the Loan and under conditions specified in the Loan agreement. Uncommitted line, provides that the Bank has no future obligation to provide full loan amount.

Multipurpose line

Multipurpose line is financing instument by whcih the Bank provides Company with a borrowing limit usually for a period of up to one year, for the purpose of financing of working capital needs. Approved limit can be used in form of the loan but aloso for trade finance instruments i.e. Guarantees, Letters of credit, Letters of intent.

Main purpose of multipurpose line is to provide flexible financing instrument that supports Company in financing working capital needs.


Overdraft is allows companies to perform financial obligations regardless of available funds in the current account but within approved limits. Overdraft is repaid form cash inflows to Clients account. Interest is charged only during the utilization period, on utilized balance.
Overdraft limit is provided only in the local currency for a period of one year with a possibility for prolongation each year subject to business performance.
Overdraft limit is usually provided on unsecured basis.

Investment loan is type of financing, used for the financing of specific investment needs – capital expenditure of the Company. Realization of a specific investment is conducted within existing Company which usually participates in the investment financing.

The basis for a loan financing is the expected cash flow of the investment supported by existing business performance providing ability of the client to repay the loan over the agreed period.

The tenor of the cash flows generated by the underlying investment financing should match payment maturities under the credit facility. Specifically, in case of loans granted to finance fixed assets, the tenor of the credit line must not exceed the average amortization period of the underlying asset or the expected economic life of the assets.

As a general rule, credit facilities granted to finance capital expenditure shall be:

  • Supported by a security over the relevant asset
  • Granted only on the base of conservative business plans
  • Supported by the provision of financial covenants in the relevant loan contract and
  • Requiring a borrower participation with certain percentage of own funds of the total investment project costs

A Syndicated Loan is a type of financing provided by two or more lenders to a borrower or a related group of borrowers under a common set of legal documents. The group of lenders is known as the Syndicate. It therefore differs from the case where the borrower has several individual loan facilities from different banks, all of which are governed by separate loan agreements (bilateral).

Syndicated loans are originated and structured by one or more banks known as Mandated Lead Arrangers (MLA). The loan is then sold to investors by the Book runner(s). Lenders in the Syndicate are required to undertake their own due diligence. They may not legally rely on the due diligence carried out by the MLA(s), and have no recourse to the MLA(s).


The following terms are applicable with respect to such loans

  • Mandated Lead Arranger (MLA): one or more financial institution responsible for initiating and
  • structuring the transaction, negotiating the legal documentation between the borrower and lenders and the primary distribution of the credit facility.
  • Bookrunner(s): Financial institutions responsible for executing and managing the sell down /
  • Syndication process.
  • Participants: banks and/or institutional investors that take a share of the risk in a syndicated
  • loan, regardless of whether such participation occurs through a legal assignment or risk participation;
  • Syndicate: comprises all lenders which have taken a share of the risk in a syndicated loan;
  • Syndication: the distribution of risk among potential investors
  • General Syndication: involves the process of syndicating on a best efforts basis or an underwritten basis. It ends with the signing of the Syndication Agreements by the borrower and participating lenders (including MLAs and Underwriter(s),
  • Secondary sell down: the process of selling part of the loan once the primary syndication has been completed and allocations have been made to participants


Elements of a Syndicated Loan

  • Credit Approved Underwriting Amount: portion of the syndicated loan that UCG is willing to underwrite. It comprises the sum of the Credit Approved Final Take and the Syndication Amount (as defined below).
  • Credit Approved Final Take: the amount UCG accepts to take and hold on its own books.
  • Syndication Amount: represents the amount of the syndicated loan UCG wishes to sell down in the primary market. It is equal to Credit Approved Underwriting Amount less the Credit Approved Final Take.

UniCredit Bank Serbia and National Bank of Serbia have signed the Finance Intermediary Agreement which defines the implementation of Finance Agreement signed between European Investment Bank (EIB), Republic of Serbia and National Bank of Serbia on Apex loan for financing of small-medium enterprises (SMEs) and other priorities (EIB Apex Line).

European Investment Bank (EIB) is a financial institution of European Union established in 1958 in line with the Rome Agreement that participates equally along with domestic financial institutions at financing of investment programs for SMEs as one of the goals of European Union.

Potential users

Potential users of EIB Apex  line for medium-sized entreprises and priority projects are:

  • Self-supporting medium-sized enterprises with less than 250 full-time employees;
  • Units of local self-government;
  • Other enterprises in accordance with the EIB criteria;
Interest rate
  • Fixed: consists of the EIB fixed interest rate + 0.25% NBS margin + up to 2.5% UniCredit Bank Serbia margin;
  • Variable: consist of the EIB Interest rate (based on 3M EURIBOR + EIB margin) + 0.25% NBS margin + up to 2.5% UniCredit Bank Serbia margin;

Projects that support youth employment:

  • Fixed: consists of the EIB fixed interest rate + 0.175% NBS margin + up to 1.75% UniCredit Bank Serbia margin;
  • Variable: consist of the EIB Interest rate (based on 3M EURIBOR + EIB margin) + 0.175% NBS margin + up to 1.75% UniCredit Bank Serbia margin;
Features of the EIB Apex Line:
  • Cost of each project should not exceed the equivalent of EUR 25 million in counter value;
  • The amount of an EIB allocation may reach up to 100% of the loan granted by the intermediary to medium enterprises , but may not exceed EUR 12.5 million in counter value;
  • The amount of an EIB allocation may reach up to 50% of project cost for any other type of final beneficiary, but may not exceed EUR 12.5m in counter value;
  • Tenor up to 12 years for medium enterprises (grace period up to 4 years) and 15 years for public sector authorities (grace period up to 5 years),
  • The term of loans granted by the intermediary should correspond to the economic and technical life of the investments financed, with a minimum lifetime of 2 years;
  • Investments have to be located in the Republic of Serbia;
  • Since project is financed from funds provided by the EIB, each end user will have a financial advantage: Lower interest rate of minimum 50 basis points (80 basis points for projects supporting youth employment) in relation to the annual interest rate that UniCredit Bank Serbia would charge for this loan without EIB participation.
Details about project:

Not eligible for the EIB Apex Line

  • Production of weapons and ammunition, arms, military or police equipment or infrastructures, and equipment or infrastructure limiting people’s individual rights and freedom (i.e. prisons, detention centres of any form)
  • Gambling and related equipments
  • Tobacco manufacturing, processing, or distribution
  • Activities involving live animals for experimental and scientific purposes insofar as compliance with the "Council of Europe’s Convention for the Protection of Vertebrate Animals used for Experimental and other Scientific Purposes" cannot be guaranteed
  • Activities which give rise to environmental impacts that are not largely mitigated and/or compensated
  • Sectors considered ethically or morally controversial, e.g. research on human cloning
  • Pure real estate development activity
  • Purchase goodwill; Purchase of intangible assets; purchasing licenses;
  • Exclusively financial transactions - eg. trade in financial instruments;
  • Purchase, construction, upgrading and equipping of office space and retail facilities, including sales offices and gas stations;
  • Purchase of agricultural land;
  • Wholesale and retail trade, repair of motor vehicles and motorcycles;
  • Procurement of permanent working capital for the procuremenr of consumer goods exclusively intended for further sale;
  • Other sectors excluded by NACE classification.
Eligible projects

Eligible projects* are all investments and expenditures incurred in the context of the development of final beneficiaries, except for purely financial transactions, including:

  • The purchase of tangible assets other than land
  • The investment in intangible assets, i.e.: Development, planning and financing costs during a construction phase.
  • R&D expenses (fees, development costs and gross salaries directly associated with the research, development, and innovation components of the activity).

Investments must comply with EU Environmental and Procurement legislation. Only for SME in addition:

  • Investments in intangible assets, i.e.: Building up of distribution networks in domestic or other markets inside the EU (asset and/or trademark acquisition, operational costs and labour costs), generation change or staff-related company transmission, allowing for a continuation in economic activity of the respective company. The scope of the financing is however limited to those cases where both buyer and the entity to be sold are SMEs, and to an amount not exceeding EUR 1m. The acquisition of companies as such is not eligible
  • Permanent increase in working capital required for expanding business activities
  • Investments must be ina accordination with EU rules about environmental protection and procurement.

Important notice:

*The project is a set of tangible and intangible investments and expenditures that can be identified in terms of location, plan and benefits, which is carried out for a period of up to three years. From the moment of concluding the financing agreement of the relevant project until the submission of the application for the allocation of funds to the EIB should not exceed six months.

Qualified investments in energy efficiency investments that contribute to the improvement of the energy performance of buildings and industrial sectors, which are consistent with at least one of the following criteria:

  • ESR (Energy Saving Ratio) equal to or greater than 30% in the buildings sector, measured on an annual basis, with the same elements
  • ESR equal to or greater than 20% in all other cases, measured on an annual basis, with the same elements
  • Reduce greenhouse gas emissions, reducing greenhouse gas emissions measured in equivalent tons of CO2 is equal to or greater than 20%, measured on an annual basis with the same elements
  • If the current national minimum requirements are stricter than above, than national requirements should be applied
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