RZB and Raiffeisen Bank (RBRO) as mandated arrangers have successfully completed syndication of a 10-year syndicated term loan facility of Eu73mn for Romania’s Ministry of Transport, Construction and Tourism (MTCT).
This was the first time in Romania that the borrower had tapped the international loan market with a 10-year syndicated loan facility. The transaction was very well received by the investors and the facility has been oversubscribed. The mandated arrangers scaled back the commitments to the original amount of Eu73mn.
The loan is for financing part of the non-US content for the Brasov-Bors Motorway, in particular relating to the motorway construction project in 2004.
The supplier is Bechtel International.
Co-arrangers are: Alpha Bank, Depfa Investment Bank, Magyar Kalkereskedelmi Bank, National Savings and Commercial Bank (OTP Bank), and Bulbank.
Lead managers are: Investkredit Bank and Raiffeisenlandesbank Oberosterreich.
Kommunalkredit International Bank is a manager.
The motorway is a 415km dual carriage motorway from the city Brasov to the Hungarian border near the village of Bors. This is part of the Constanta-Bucharest-Budapest motorway corridor which is one of the three planned links of the trans-European motorway network.
The motorway will be a critical element in securing Romania’s key role between Europe, Asia and the Black Sea.