“This is the second funding of this type we’ve handled in Romania. The first involved BT Leasing, which got funding worth EUR10 million from this bank,” said Matei Paun, managing partner at BAC Investment.
The International Investment Bank invests only in its nine member states: Romania, Slovakia, Mongolia, Bulgaria, Cuba, the Czech Republic, Hungary, Vietnam and Russia.
Half of the money borrowed by Romcab is aimed at investments and half at the working capital, according to Paun.
“The funding is contracted over a seven-year period and will allow the company to take a significant leap,” added Paun.
Romcab generated revenue worth RON653 million last year, up 40% against 2013, and profit worth RON32 million.
BAC Investment has collaborated with the IIB for over two years and has so far handled funding worth around EUR65 million.
BAC Investment is now in talks with other companies as well on contracting funding from the IIB, according to Matei Paun.
(English version by Catalina Apostoiu)