Banca Comerciala Romana (BCR), Romania’s biggest bank, has raised a $400m syndicated loan from the international capital market without government guarantees. This is the largest foreign financing package ever awarded to a Romanian company.
The loan was arranged through Bank Austria Creditanstalt, Calyon, Citibank and WestLB, London branch; 24 international financial institutions from Europe, the US and Asia were involved in underwriting the loan.
The loan will be used to expand banking operations and prepay a syndicated loan facility worth $200m entered into in March 2004.
