Romanian Post plans to take up RON 100mln loan to secure working capital

The Romanian Post will organize in September a tender for taking up a loan of RON 100 million (nearly EUR 22 million) for a year, which will be used for financing work capital. The estimated costs are RON 8.8 million (nearly EUR 2 million).

The potential parties in the tender must provide a participation warranty of RON 140,000 (EUR 30,500).

The loan will be reimbursed from the Romanian Post’s own resources.

The Romanian Post is owned by the Ministry of Communications, which has a 75 percent stake, and Fondul Proprietatea, with 25 percent stake. The territorial network of the operator counts 7,100 post offices.

Last year, the Romanian Post posted a turnover of RON 1.26 billion (EUR 274 million), down 8.7 percent on the previous year. The company posted 50 percent more losses, amounting to RON 182.9 million (approximately EUR 40 million).

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 Otilia Haraga