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IFC grants credit facility in excess of 100 mln euros to Transilvania Bank

International Finance Corporation, World Bank investment division, has granted to Transilvania Bank a credit facility in the value of 102.5 million euros, including a credit of 30 mln euros from the International Finance Corporation (IFC) and a syndicated credit in the value of 72.5 million euros, bank's official announced on Thursday.

This loan will allow BT to continue financing in the real estate sector and in the sector of small and medium-sized enterprises in Romania.

BT plans to make available, up to the end of 2013, to micro-enterprises, SMEs already its clients, up to three billion dollars through 150,000 credits. Financing portfolio for homes should amount to 910 million dollars, through the granting of 12,000 credits till the end of 2013.

International Finance Corporation has provided up to now to Transilvania Bank other long-term financing, through real estate credit lines and level II capital instruments.

This new financing line will facilitate the bank to implement its medium and long-term strategic plans. In the context of recent events on the international markets this major transaction demonstrates that Transilvania Bank has strong business partners, having further access to resources, in the aim to aid SMEs and home construction sector, stated Robert C. Rekkers, general manager of Transilvania Bank.

The main initiators mandated for the granting of the syndicated credit are IFC, Commerzbank Aktiengesellschaft, Landesbank Berlin AG, Mashreqbank, Raiffeisen Zentralbank Osterreich AG, UniCredit Bank Austria AG and Wachovia Bank, Commerzbank, Landesbank Berlin, RZB.

UniCredit Bank Austria and Wachovia Bank jointly organized the documentation for this credit. Other banks which engaged in the syndicated credit are: Standard Chartered Bank, BANQUE BIA, CAJA MADRID and Oberbank AG.

Transilvania Bank is in the top 5 banks in Romania, according to its assets. It has majority Romanian capital and the European Bank for Reconstruction and Development, which holds 15 percent of the share capital, is a significant shareholder. BT is a financial institution represented nationwide, with 526 units and more than 6,700 employees. According to a study conducted in 2008, Transilvania Bank is among the most known 10 Romanian brands. It is the first banking institution in Romania listed on Bucharest Stock Exchange (BVB), in 1997. Transilvania Bank activity is organized according to four main business lines - individual clients, SMEs, big companies, respectively a Department for Medical Doctors - with specific products and services, and has a dedicated staff.

 

Sursa: http://www.rompress.ro

Tags: credit transilvania euros bvb

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