The Cluj-Napoca city hall has contracted a 300 million-RON(around 71 million-euro) loan from CEC Bank over 30 years to coverplanned or ongoing investments.
Originally, the Cluj authorities intended to contract a 600million-RON (around 142 million-euro) loan, after holding talkswith representatives of CEC Bank and the BCR, the only two banksthat submitted lending offers. Following negotiations last weekbetween representatives of the Cluj city hall and officials of thetwo banks, CEC Bank's offer was accepted.
"On December 21st we will sign the contract with CEC Bank, whichentails the granting of a 300 million-RON loan, over a minimum of30 years, with the overall cost of the loan being over 400.2million RON. The grace period is of a maximum of four years, theperiod for drawing the loan will amount to least four years, withthe possibility of extending it, without additional costs," OanaBuzatu, spokesperson of the Cluj-Napoca city hall, told ZFTransilvania. The loan has an interest rate 2% above the arithmeticmean between ROBOR and ROBID (interbank interest rate onloans/deposits).
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