The banks include Banca Comerciala Romana, BRD – Groupe Societe Generale, Citibank Europe, RBS Bank Romania and UniCredit Bank Austria, each lending 20 million euros.

The new loan is replacing the 100-mn euros credit facility previously granted by 11 banks. The credit will be used “to refinance the syndicated 100-mn euro loan, as well as for general business purposes”, reads a press release remitted by the company.

“This agreement reflects A&D Pharma’s capacity to attract financing even under difficult market conditions. We are delighted that we met all conditions imposed by the five banks who proved there was a solid support for A&D Pharma’s business model, even today considering the tight lending standards”, said Robert Popescu (photo), CEO A&D Pharma. The board of the drug retailer said the money will also be used to keep the company’s strategic position and to overcome the effects of the current economic crisis.