Erste’s BCR Approves $61 Million Loans to TMK’s Romanian Unit

Romania’s Banca Comerciala Romana SA will lend about 45 million euros ($61 million) to TMK-Artrom SA, a pipe producer majority-owned by OAO TMK, the world’s second- biggest maker of pipes for the oil and gas industry.

BCR, Romania’s biggest bank by assets, approved a 20 million-euro credit to TMK-Artrom over the next five years to improve its debt structure, the bank said in an e-mailed statement today in Bucharest.

The lender has also approved a new treasury line for TMK- Artrom worth 3 million euros and increased existing funding facilities of about 22 million euros.

To contact the reporter on this story: Andra Timu in Bucharest at atimu@bloomberg.net.

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.