October 24 (SeeNews) - Romanian non-banking financial institution Tiriac Leasing said it is taking a 10 million euro ($11.7 million) loan from the local unit of Greek lender Alpha Bank.
The loan will serve to finance and refinance the financial leasing contracts, Tiriac Leasing said in a press release on Monday.
The loan contract will be accompanied by a mortgage on the motor vehicles which were financed or refinanced under the credit facility.
In March, Tiriac Leasing took out another 10 million euro loan from lender Banca Romaneasca. The loan was granted for a five-year period and is destined exclusively for leasing activities.
IFN Tiriac Leasing, founded in 1999 under the name Molesey Leasing Group, provides financial leases for the entire range of new and used vehicles, from cars to commercial fleets.
It is part of Tiriac group, owned by professional tennis player-turned-businessman Ion Tiriac. The the group brings together more than 40 local private companies, operating in the following main sectors: automotive, real estate, financial services, leasing, air transport and energy.
Tiriac is considered the wealthiest man in Romania, credited with a fortune of 1.6-1.65 billion euro, according to the Top 300 Wealthiest Men in Romania 2016 ranking compiled by Capital magazine.
($=0.8514 euro)
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