The Raiffeisen credit was extended until October, while the Alpha Bank loan now has a deadline set for November, according to a Titan memo sent to the Bucharest bourse Friday.
The Alpha Bank loan was initially worth EUR10 million, but in May this year it was extended to EUR18 million, for the issue of a bank guarantee. The counter-guarantee matures in July 2012.
The two loans were last year extended as well, by approximately one year.
Titan posted a net profit of RON7.5 million in the first nine months of the year, compared to a loss of RON2.5 million in the same interval of 2010. In the same timeframe, sales jumped to RON267 million, from RON176 million.
The company has a share capital of RON40.8 million, divided into 408.4 million shares with a face value of RON0.1. The majority stake, 97.58%, is owned by LLI Euromills Vienna.
Titan shares were last traded Tuesday, at RON0.25, down 1.96% on the day. (EUR1=RON4.3397)