Banca Transilvania wants to borrow 22.5m euros

Banca Transilvania plans to take out a syndicated loan of up to 22.5 million euros from several international banks in order to diversify its streams of funding and support the development of the lending business. The bank is currently in talks for this loan. “We are still in talks and nothing is for certain at the moment. We hope to finish talks in two weeks,” says chief executive Robert Rekkers. Part of the funding, that is 7.5 million euros could come from the European Bank for Reconstruction and Development (EBRD), the bank’s biggest shareholder, and the rest from a syndicate of banks. The loans will mature in five to seven years, according to a draft unveiled by EBRD. “The money we want to borrow will be directed to lending to individuals and legal entities,” Rekkers says. The bank has received several lines of credit from a number of international financial institutions to support its lending business in the last few years. ZF