Leading Romanian BCR bank confirms EUR 101mn loan to RCS&RDS telco.

By bne IntelliNews December 5, 2011
The largest Romanian bank, BCR, part of Austria's Erste Bank group, confirmed that it contributed EUR 101mn to the EUR 300mn syndicated loan contracted by the local telecom company RCS&RDS, Ziarul Financiar reported. This has been the largest individual loan extended by BCR this year, bank's CEO Dominic Bruynseels stressed. Local bank CEC and Credit Suisse also contributed to the loan. The interest rate for the five-year loan is reportedly around 5% for euros, according to sources quoted by the daily said. The EUR 101mn contributed by the BCR, disbursed to RCS&RDS as the first tranche of the loan, will be used for covering other company's loans that mature.

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