HVB and West LB lend CFR 60m euros

German HVB and West LB banks will lend CFR Calatori more than 60 million euros for importing the last batch of 21 self-propelled Desiro trains made by the Siemens Group in Germany, sources at the Ministry of Transports, Constructions and Tourism told Ziarul Financiar. Siemens and CFR Calatori closed the largest contract in the entire Romanian rolling stock industry worth 321 million euros in 2001, with the funding committed thereof exceeding 200 million euros if adding the new loan. The deal is secured by the Romanian State. “The two banks submitted a joint bid, but the interest is confidential, as negotiations are to be held soon in order to conclude the credit contract. The interest rate’s margin above Euribor is lower than that of the other loans contracted as part of the Siemens contract so far, ” the quoted sources said. Ten banks were called to submit bids, i.e. Deutsche Bank, Alpha Bank, Citibank, ABN Amro, BNP Paribas, BRD Societe Generale, ING and Raiffeisen and the two that teamed up. ZF