August 21 (SeeNews) - Romanian courier services provider Urgent Cargus has contracted a syndicated loan facility worth 134 million lei ($34 million/ 29 million euro) from local lenders Banca Comerciala Romana (BCR) and OTP Bank.
The loan facility has a five-year maturity, as Urgent Cargus will use the money for its development and to partially refinance existing loans, BCR said in a press release.
BCR acts as coordinator, mandated lead arranger and agent for documentation, facilitation and guarantee, while OTP Bank Romania acts as mandated lead arranger.
Urgent Cargus is controlled by Abris Capital Partners and operates 72 centres and warehouses across Romania. With more than 1,100 employees, it operates a fleet of 2,600 vehicles and carries 32 million parcels every year.
Abris Capital Partners is a private equity fund focused on opportunities for mid-market investments in major countries in Central and Eastern Europe. Established in 2007, Abris manages two equity funds of more than 1.2 billion euro.
BCR, a member of Erste Group, is Romania's top lender in terms of assets. It had 3.1 million clients, 513 units and 7,016 employees in Romania at end-June.
OTP Bank Romania is the eleventh largest bank in the country in terms of assets. OTP has been present in Romania since 2004 and currently operates a network of 100 branches where 1,126 work.
(1 euro =4.5881 Romanian lei)
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