ING lends $75m to Tarom

New York-based ING Capital LLC, arm of the Dutch financial group ING, has arranged an export loan worth $75m for national airline Tarom to buy two Boeing 737-700 aircraft by yearend. The acquisition will be financed through a credit maturing in 12 years, secured by the Romanian Finance Ministry and the American export-import bank, US Exim Bank. ING Bank Romania initiated the financing contract for Tarom to buy another two Boeing aircraft in 2001, under an $83m transaction. The funding was granted in collaboration with ING New York, ING Dublin and ING Amsterdam. ZF