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Monday, October 11, 2004

Loans for Romanian Business

The latest major loans for romanian business:
(source: BusinessRomania.com)

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$105 Mln Loan For Alro

According to banking market sources, the consortium including the aluminum manufacturer Alro Slatina and its main shareholder Marco International will soon benefit of a $105 million syndicated loan from the international market. Alro will use the money to expand its production capacity and its environment protection facilities, while Marco will refinance the debt connected to the acquisition of Alro. The loan's lead manager will be the German bank HVB. If completed, it will be the biggest credit contracted by a private Romanian company from the international market this year after the $200 million one attracted by BCR.

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ING Bank Grants $70 Mln Loan To RCS

Romania Cable Systems (RCS) has received a $70 million loan from ING Bank Romania, the funds being needed for financing the acquisitions, increasing work capital and future equity increases, said the deputy general manager of ING Bank, Misu Negritoiu. Besides the branch in Romania, the operation also includes ING Bank NV Amsterdam and The Royal Bank of Scotland. RCS is one of the most important telecommunications operators in Romania. Services for transmission of data, Internet, cable TV and fixed telephony are provided by Romania Data Systems (RDS), through RCS infrastructure.

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EBRD EUR 15 Mln Loan For Banc Post

Banc Post might receive from the European Bank for Reconstruction and Development (EBRD), a EUR 15 million credit line enabling the bank grant mortgage financing to individuals in order to help them purchase or restore dwellings. The project could get the approval of EBRD’s management after the exanimation procedure scheduled for October 19. Banc Post will grant denominated loans in different currencies, according to customers requests. Last year in May EBRD also granted Banc Post a EUR 20 million credit for a period of 11 years for the financing of the program based on mortgage credits.

Hopefully, more to come :)

Posted by Mihai : 10/11/2004 10:48:00 am