EBRD swaps Banc Post debt for equity

European Bank for Reconstruction and Development (EBRD) is to swap the $10 million loan granted to Banc Post in 1998 for equity. This would be EBRD’s fifth investment in the Romanian banking system, as it already holds stake in Banca Transilvania, Banca tiriac, Banca Romana pentru Dezvoltare (Romanian Development Bank – BRD) and Miro Bank. The second half of April was actually the new deadline allowed for IFC (International Finance Corporation) and EBRD to submit notifications about swapping the loans to Banc Post for equity, following extension of this deadline for technical reasons in March. ZF