BA/CA has the money for Romgaz

Bank Austria Creditanstalt AG, part of the German financial group HVB at the end of last week finished brokering a $60 million syndicated loan for domestic natural gas producer Romgaz Medias. This is the first international syndicated loan taken by Romgaz and secured by the Romanian State. The money will be used for buying one billion cubic metres of natural gases from Russia. The credit contracted by Romgaz, the leading producer and supplier of natural gases on the Romanian market was granted for three years with a one-year grace period. The repayment will be done in 24 equal tranches, the bank’s officials say. Romgaz representatives could not be reached for comment by press time. Bank Austria Creditanstalt was authorised to broker the syndicated loan early in August, after Romgaz chose one of the eight bids it had received. ZF