BUSINESS

Petrom gets EUR 930 M line of credit

Petrom Company has taken out a multi-currency three-year line of credit worth EUR 930 M, with an extension option of two more years, Mediafax report. The credit will go into covering the company’s needs, including the investment programme underway. This line of credit replaces its counterparts worth EUR 875 M taken in 2008 and 2009, yet unused and due to mature in 2012, according to a Petrom release to the Bucharest Stock Exchange. The transaction, substantially upped from the original amount of EUR 750 M, involves subscribers and brokers mandated by the banks BNP Paribas, BRD-Groupe Societe Generale, Citi, Raiffeisen Bank International AG and Unicredit. The bank syndicate consists of 14 domestic and international banks. The interest was set at 1.9 pc over the reference rate.

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