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.
A&D Pharma borrows 100 million euros to refinance syndicated loan
A&D Pharma, Romania’s largest drug retailer, has signed earlier today the agreement for a 3-year 100million euro loan with five banks to refinance previous syndicated loan and for general business purposes, the company said in an official statement earlier today.
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