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.
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