Romanian lender BCR has granted a EUR 101 million loan for local telecom company RCS & RDS, part of a EUR 300 million syndicated loan from Credit Suisse and CEC Bank.

The loan will refinance RCS& RDS' existing credit facility. BCR's part covers the first tranche of the new loan, that has a five-year maturity.

“This is the largest individual loan granted by BCR in 2011 […]. We have funds, we are liquid and we want to send a strong signal to the market about our availability to continue to finance feasible projects and entrepreneurs who don't cease to see opportunities in the existing economic climate,” said Dominic Bruynseels, CEO of BCR.

RCS & RDS ranks 37th in the top of the biggest companies in Romania, based on their 2010 turnovers (check the full top we published here). Its 2010 sales reached EUR 418 million, up from EUR 391 million the year before.

RCS & RDS has 9 million users of cable, internet, satellite TV, mobile and fixed telephony services. The company is controlled by Romanian businessman Zoltan Teszari. It was created 15 years ago and operates on the Romanian market, as well as in Hungary, the Czech Republic, Slovakia, Croatia and Serbia.

editor@romania-insider.com