Alpha Bank, Raiffeisen Extend Credit Granted To Romanian Titan
Lenders Alpha Bank and Raiffeisen Bank Romania extended two credit facilities worth 25 million lei (EUR5.76 million) and EUR18 million respectively, contracted by bread maker and miller Titan (MPN.RO), until the third quarter of 2012.
The Raiffeisen credit was extended until October, while the Alpha Bank loan now has a deadline set for November, according to a Titan memo sent to the Bucharest bourse Friday.
The Alpha Bank loan was initially worth EUR10 million, but in May this year it was extended to EUR18 million, for the issue of a bank guarantee. The counter-guarantee matures in July 2012.
The two loans were last year extended as well, by approximately one year.
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