Hidroconstructia takes out EUR 60 mln syndicated loan

Newsroom 14/01/2014 | 10:06

Romania’s Hidroconstructia, a construction firm specialized in the hydro sector, has taken out a EUR 60 million loan for working capital, allowing the issue of bank guarantee letters for the firm’s contracts.

BRD-Groupe Societe Generale was mandated lead arranger, in the consortium, which also included insurer Allianz-Tiriac Asigurari.

“The deal is among few similar operations in Europe which, aside from banks as creditors, includes a general insurer active in the guarantee field,” said the lender in a statement.

BRD together with Allianz-Tiriac act as secured creditors for the bank guarantee letters.

Law firms Clifford Chance Badea and Voicu&Filipescu advised the consortium on the loan deal.

Hidroconstructia is the largest construction firm in Romania by turnover, which has completed projects locally and abroad including Iraq, Germany and Serbia.

Ovidiu Posirca