Romgaz gets $60m loan

Romgaz Medias, Romania’s largest natural gas producer, is to contract a $60m syndicated loan from a banking consortium, led by Bank Austria Creditanstalt. The loan is meant for buying gas from Russia and is secured by the Romanian State. “The money will be used for the acquisition of one billion cubic metres of natural gas from Russia; 750 million cubic metres will be deposited, while the rest is for consumption. Eight banks submitted bids, but the best deal was offered by HVB (which took over Bank Austria Creditanstalt three years ago, i.e.),” said Avram Pantelimon, general manager of Romgaz Medias. ZF