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.