Sibiu-based Ambient, one of the largestconstruction materials distributors, controlled by businessman IoanCiolan, has secured a 4.6 million-euro loan from a consortium ofnine partner banks, in view of refinancing a debt to Credit EuropeBank and of making payments to suppliers.
The shareholders of the firm, who control a network of 15distribution centres, mostly in Transylvania, decided to "take outa new syndicated loan facility over a maximum of 12 monthsamounting to up to 4.6 million euros, granted by Banca ComercialăRomână, Banca Transilvania, Piraeus Bank, Alpha Bank, RaiffeisenBank, BRD-GSG, Royal Bank of Scotland, OTP Bank and Bancpost, inorder to refinance debts to Credit Europe Bank, pay suppliers, andcover costs of the syndicated loan," according to an announcementpublished in the Official Gazette.
Ambient representatives specified they resorted to nine banks toget this loan because this was the "procedure" for securing "newmoney", with partner banks having their set quota of contributionto the syndicated loans.
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