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May 11, 2023 14:23 EEST
May 11 (SeeNews) - Romanian agribusiness company Holde Agri Invest [BSE:HAI] said on Thursday that it signed a syndicated loan agreement worth 30.5 million lei ($6.8 million/6.2 million euro) and 26.7 million euro ($29.2 million) with local lender Banca Transilvania [BSE:TLV], as arranger and financier and OTP Bank Romania, part of Hungarian financial services group OTP, as financier.
The syndicated loan comprised four financing lines directed at supporting working capital as well as various equipment and land acquisitions, Holde Agri Invest said in a statement filed with the Bucharest Stock Exchange.
You can download the 2023 Agriculture industry in Southeast Europe report here
The 30.5 million lei financing line will fund the company’s daily operations, while the other three lines totalling 26.7 million euro will support purchases of equipment, agricultural machinery, logistics and construction elements, the modernisation of ensiling capacities, as well as acquisitions of agricultural farms and land.
In March, Holde Agri Invest acquired for 2 million euro a 980-hectare farm in the southern county of Dambovita, boosting the agricultural land it operates to approximately 13,200 hectares, it said in a press release at the time.
Holde Agri Invest shares traded 2.56% higher at 1.2 lei as at 1229 CET on the Bucharest bourse on Thursday. Banca Transilvania shares gained 0.79% reaching 19.17 lei as at 1233 CET.
(1 euro=4.9294 lei)
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