Romanian food service operator Sphera Franchise Group said on April 30 it plans to borrow up to €70mn through a bilateral, syndicated or club loan.
Sphera’s portfolio includes brands operated from a franchise perspective such as KFC, Pizza Hut, Pizza Hut Delivery and Taco Bell in Romania, KFC in Moldova and KFC in the northeast area of Italy.
The decision to enter into a banking facility agreement was approved by the company at an ordinary general shareholders meeting on April 25.
Sphera plans to open 24 restaurants in 2019, with an estimated investment of around €19.8mn, a company document showed earlier this year. This year, Sphera plans to open eight KFCs in Romania, 10 KFCs in Italy, one Pizza Hut and five Taco Bell restaurants. The company also plans to invest €3.1mn in store remodellings this year.
In November 2017, Sphera closed an IPO of a 25% stake in the company, raising RON285mn.
Romania's biggest power producer Hidroelectrica launched a call for the acquisition of legal services related to listing its shares on the Bucharest Stock Exchange by an IPO that has been expected ... more
Alpha Bank Romania announced that it has completed its first covered (mortgage) bond issue worth €200mn with a maturity of five years, a first for the banking market in Romania. With these ... more
International Investment Bank (IIB) said on April 23 it has granted a loan with a tenor of seven years to Romania’s Agricover Credit IFN, a company that finances the agricultural sector in ... more