July 29 (SeeNews) - Romanian investment fund Fondul Proprietatea [BSE:FP] said that it has decided to partially waive the existing credit facility with BRD - Groupe Societe Generale [BSE:BRD], cutting its maximum committed amount to 45 million lei ($10.6 million/9.5 million euro) from 400 million lei.
Under the new terms, Fondul Proprietatea may access, subject to BRD’s approval, additional financing in excess of the committed amount, without exceeding a total amount of 245 million lei at any given time, the investment fund said in a bourse filing on Friday.
Fondul Proprietatea signed the revolving credit facility with BRD in 2016, when its maximum committed amount was 1 billion lei. The agreement was subsequently extended on two occasions, with its maximum committed amount decreased to 400 million lei.
The agreement currently expires on June 29, 2020.
As at 13:00 CET on Monday, BRD - Groupe Societe Generale's shares traded 0.45% higher at 13.32 lei, while Fondul Proprietatea shares changed hands 0.46% lower at 1.08 lei.
(1 euro = 4.2526 lei)
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