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04.08.2003

Sole mandate from Romgaz goes to Bank Austria Creditanstalt

  • Bank Austria Creditanstalt is exclusive Arranger and Underwriter of the 3-year amortising USD 60,000,000 Syndicated Term Loan Facility.
  • Romgaz is the dominant Romanian natural gas producer.

Bank Austria Creditanstalt (BA-CA) has been mandated by the Societatea Nationala de Gaze Naturale “Romgaz” S.A. to arrange a 3-year amortising USD 60,000,000 Syndicated Term Loan Facility. BA-CA has been appointed as “Mandated Lead Arranger”. The tenor of the transaction is 3 years with an amortizing structure after 1 year grace period. It is planned that the transaction will be guaranteed by the Republic of Romania.

Romgaz is the dominant Romanian natural gas producer. Its main business focus is the exploitation, production and underground storage of natural gas. In 2002, Romgaz has been the largest producer and supplier of natural gas in Romania, covering 45,6% of the domestic market. The company is owned 100% by the Romanian state through the Ministry of Economic and Commerce. Romania has the largest natural gas market in CEE. The country enjoys a high level of gas penetration and has natural gas reserves for another 25 years of extraction.

The Republic of Romania is rated by S&P  BB- with a positive outlook; B1/Stable by Moody’s and BB-/Stable by Fitch. The prospect of EU accession in 2007 has promoted political consensus, and strengthened the reform-oriented forces in Romania.

Together with HVB Group, BA-CA is the leading arranger of syndicated loans in Central and Eastern Europe (first quarter 2003). In the region CEE, BA-CA is operating the largest network with 900 outlets in 11 countries. 18.000 employees serve more than 3.5 million customers. In Romania, BA-CA is represented by its subsidiary HVB Bank Romania. With total assets of EUR 548 million, HVB Bank Romania is the sixth largest Romanian bank. The bank has six branches in the biggest cities of the country. 

Inquiries:
Bank Austria Creditanstalt Group Public Relations
Ildiko Füredi, Tel: +43 (0) 50505 56102, e-mail: ildiko.fueredi@ba-ca.com