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November 14, 2011

 

Romania's Avicola Buzau to borrow US$5 million
 

 

To finance current operations and refinance debt, Romania's Avicola Buzau will borrow RON15.7 million (US$4.95 million) from local lender Eximbank.

 

Some RON12.5 million (US$3.9 million) will be used to finance the company's working capital, while the remaining will go towards refinancing two loans taken from local lender Banca Romaneasca, Avicola Buzau said on Thursday (Nov 10).

 

The company's shareholders approved the planned loan at a general extraordinary meeting held on November 8.

 

Avicola Buzau shares were trading 0.33% down at RON0.03 (US$0.01) by 0932 GMT on Friday on the over-the-counter market RASDAQ.

 

Majority state-owned Eximbank focuses on providing financing, guarantee and insurance services to Romanian companies, especially exporters, small and medium-sized enterprises (SMEs) and companies running projects in core domains of the Romanian economy.

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