Elmec Sport S.A. reached an agreement with EFG Eurobank Ergasias S.A., to merge the existing EUR 10.8 mn short-term credit facility into the existing EUR 20 mn bond loan, stretching up to September 2014. After the merger of the said loan facilities, a new EUR 31 mn bond loan will come up, stretching up to September 2014, with a grace period up to September 2011, as was the case for the existing EUR 20 mn bond loan. By this agreement, for which no extra collaterals were given to the Bank, EUR 10.8 mn of current debt will be transformed into non-current debt in a turbulent financial environment. Annualised total interests paid in 2008 for the two loans stands at EUR 1.8 mn, while estimated interest to be paid for the new loan stand at EUR 1.1 mn