Uztel will take out a RON4.5 million loan to refinance a long-term credit facility from ING Bank for a period of 60 months at the date of signing, with a grace period of six months principal. The second loan, of RON5 million, will be used for working capital for a period of 12 months from the date of signing the credit agreement with a revolving reimbursement.
Uztel posted a net profit of RON349,000 in the first nine months of 2018, compared with a loss of RON12 million in the same period the year before. It had a turnover of RON44 million, up 57% on the year.
The company is 83% owned by the Uztel Ploiesti Association and has a stock market value of RON6.7 million.