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Transgaz opens a 300 mln. lei credit line at Banca Transilvania

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Transgaz signed a new credit agreement with bank guarantees with Banca Transilvania on Thursday. The 300 million lei credit line will be used to ensure “the necessary working capital for the current activity of the company”, says Ion Sterian, general manager of Transgaz.

“As you know, Transgaz has started a competitive selection procedure of a financial institution for contracting a credit facility worth up to 300 million lei, without guarantees, for a period of 2 years and with variable interest in order to finance the necessary working capital for the current activity of the company. In the competitive negotiation procedure, for the selection of the financial institution, the criterion for contracting the financing facility was the lowest total financing cost. After evaluating the received offers, the offer of Banca Transilvania had the lowest total cost of financing and thus won. Transgaz and Banca Transilvania have been collaborating for many years and by concluding this financing contract, the cooperation relationship between the two institutions is further strengthened,” said Sterian.

“Together with my colleagues involved, I am glad that we managed to complete this transaction and that we managed to serve a company of national importance such as Transgaz, vital for the national energy system and thus to serve once again all Romanians. It is a flagship transaction for us. Thanks to the teams involved, from both companies, for the professionalism and speed with which they structured it”, said Omer Tetik, CEO of Banca Transilvania.

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