Romania's Oil Terminal borrows 14 mln euro from BCR

Oil Terminal will use the borrowed funds to finance investments worth a total of 115.5 million lei, the company said in a statement filed with the Bucharest Stock Exchange, BVB.

Both loans have a financing period of 180 months, a grace period of 24 months, a drawdown period of 24 months, and a repayment period of 156 months, according to the statement.

In 2023, Oil Terminal booked a preliminary net profit of 14.3 million lei on revenue of 349.8 million lei, according to an unaudited financial report issued last month.

Founded in 1898, Oil Terminal is the largest petroleum logistics company in Romania.

Oil Terminal’s majority shareholder is the Romanian energy ministry, with a stake of 87.75%, while the rest is in free float on the Bucharest Stock Exchange, BVB.

Oil Terminal's shares traded flat at 0.124 lei as at 1558 CET on Friday on the BVB.

Erste Group's shares switched hands 0.28% higher at 198.5 lei as at 1600 CET on Friday on the Bucharest bourse.

(1 euro=4.9727 lei)