Romania's Grup Serban Holding secures 73 mln euro syndicated loan
Summary
BUCHAREST (Romania), December 27 (SeeNews) - Romanian agricultural company Grup Serban Holding [BSE:GSH] said it has secured a 73 million euro ($76.1 million) syndicated loan to refinance existing debt and support its companies.Local lenders BRD Groupe Societe Generale [BSE:BRD] and Banca Transilvania [BSE:TLV] coordinated the financing deal. The latter also acts as facility agent and security agent throughout the financing period, Grup Serban Holding said in a statement filed with the Bucharest Stock Exchange on Monday. The deal also includes Raiffeisen Bank Romania, serving as sustainability agent and initial lender. "The transaction strengthens the partnership between the three financing banks and Grup Serban Holding, ensuring the redesigning of existing financing on a structure suitable for a rapidly growing group of companies," the statement reads.In October, Grup Serban Holding said that two of its investment projects would receive a total of 38.29 million euro in non-reimbursable state financing after they got approved by the countrys Rural Investments Financing Agency (RIFA).Grup Serbans shares traded flat at 1.7 lei ($0.36/0.34 euro) as at 0900 CET on December 27 on the Bucharest bourse.Shares in BRD changed hands 0.21% higher at 18.94 lei as at 1224 CET on December 27.Banca Transilvania shares traded 1.11% higher at 27.3 lei as at 1227 CET on December 27.