Transgaz receives 300 million RON financing from Banca Transilvania

Banca Transilvania finances Transgaz with 300 million RON, following a two-year contract. The money will be used to finance the company’s working capital, a press release shows.

“Transgaz has started a competitive selection procedure of a banking financial institution for contracting a credit facility worth up to 300 million RON, without guarantees, for a period of 2 years and with variable interest in order to finance the necessary working capital for the current activity of the company. In the competitive negotiation procedure, for the selection of the banking financial institution, the criterion for contracting the financing facility was the lowest total financing cost. Following the evaluation of the received offers, Banca Transilvania’s offer had the lowest total financing cost and thus won. Transgaz and Banca Transilvania have been collaborating for many years, and by concluding this financing contract, the cooperation relationship between the two institutions is further strengthened,” said Ion Sterian, General Manager of Transgaz.