The credit facility contract sealed with BCR envisages the issue of security instruments as bank guarantee letters and irrevocable standby letters of credit to the limit of RON420 million.
The company’s shareholders also approved the issue of a banking guarantee letter in the sum of EUR89,228 in favor of Floreasca Business Park, for securing the rent payment obligation for the building where Romgaz Black Sea Limited will perform its activities.
Romgas has a RON15.4 billion capitalization and is 70% controlled by the Romanian state. Its shares have added 3.1% since the start of the year amid RON532 million deals.
(English version by Catalina Apostoiu)