Louis Delhaize Group, which runs the Cora hypermarket network in Romania, will use a EUR 210 million loan from the European Bank for Reconstruction and Development (EBRD) to open 17 new hypermarkets in the country, where it already runs eight units.

The loan, which was initially announced in September last year (we wrote about it here), will help fund a project with a total cost close to EUR 400 million.

Most of Cora’s new hypermarkets will be opened in regional cities and will include sustainable energy solutions, according to the EBRD.

The loan facility includes a portion of up to EUR 140 million for the EBRD’s own account, and a portion of up to EUR 70 million syndicated to ING and Rabobank.

editor@romania-insider.com