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Jul 28, 2023 15:26 EEST
July 28 (SeeNews) - Romanian construction holding company Roca Industry [BSE:ROC1] said that its subsidiary Eco Euro Doors (EED) has contracted two loans in the total amount of 6.25 million lei ($1.4 million/1.2 million euro) from Raiffeisen Bank.
Roca Industry also granted a 2 million lei loan from its own resources to EED to finance the current activity of its subsidiary, it said in a filing to the Bucharest Stock Exchange on Thursday.
The first loan contracted by EED from Raiffeisen Bank is in the form of an overdraft in the maximum amount of 3 million lei. The loan will finance EED's current activity and has a maturity of 12 months.
The second facility is a term loan in the maximum amount of 3.25 lei, which will partially finance the costs of purchasing equipment necessary to carry out EED's current activity. The loan was contracted for a period of 60 months.
Earlier this week, Roca Industry said it is in advanced negotiations to buy a stake in local interior door manufacturer Workshop Doors, through EED.
Roca Industry was founded by Roca Investments in 2018 and operates as a holding company of Romanian construction material producers. The holding currently includes seven companies.
Roca Industry's shares traded 1.76% higher at 9.26 lei on the Bucharest bourse on July 28.
(1 euro=4.93075 lei)
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