BUCHAREST - Romanian natural gas producer S.N.G.N. Romgaz S.A. has finalized a bank loan agreement with UniCredit Bank S.A. for €100 million, aimed at funding the company's general needs and expenses. The credit facility, with a maturity of 24 months, was signed today, following the approvals required by corporate governance and regulatory standards.
The agreement comes after the Ordinary General Meeting of Shareholders of Romgaz granted its approval on July 1, 2024, through Resolution no. 9. The approved credit line from UniCredit Bank S.A. is intended to support Romgaz's operational and capital expenditure needs over the next two years.
Romgaz's Board of Directors also endorsed the terms and conditions of the bank loan agreement, which includes the General Conditions as an integral part of the Loan Agreement. This strategic financial move is part of Romgaz's broader efforts to ensure stable funding for its activities.
The loan is structured as a credit line, which provides Romgaz with the flexibility to draw funds as needed up to the total approved amount. The credit facility's duration aligns with the company's short-term financial planning horizon.
As one of the main players in the Romanian natural gas sector, Romgaz is listed on both the Bucharest Stock Exchange (BVB) and the London Stock Exchange (LON:LSEG) (LSE). The company's financial activities, including this new credit agreement, are closely watched by investors and market analysts given the significant role Romgaz plays in the energy market.
This financial development is based on a press release statement and reflects the continued confidence of financial institutions in Romgaz's creditworthiness and its strategic position within the energy sector. The company's executive leadership, represented by CEO Razvan Popescu and CFO Gabriela Tranbitas, have expressed their commitment to prudent financial management and strategic capital allocation to ensure Romgaz's ongoing growth and stability.
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