Romanian listed agriculture group gets EUR 33 mln syndicated loans for development

Holde Agri Invest (BVB: HAI), one of the most important local players in the field of agriculture, has contracted a syndicated loan worth almost EUR 33 mln in total from Banca Transilvania and OTP Bank Romania.

“Obtaining this syndicated loan represents a significant step in the continued development of Holde Agri Invest. Through this loan, we can accelerate investments in existing operations, as well as their expansion, to consolidate our position in the Romanian agricultural sector. This financial support will allow us to grow and diversify our portfolio while ensuring the necessary liquidity for our current activity,” stated Liviu Zagan, CEO of Holde Agri Invest.

The syndicated loan includes four different financing lines.

The first financing line has a value of RON 30.5 million and is intended for working capital. The other three financing lines, totaling EUR 26.7 million, will support the acquisition of equipment, agricultural machinery, logistics and construction elements, modernization of silo capacities, agricultural farms, and agricultural land.

Since its listing on the Bucharest Stock Exchange’s AeRO market in October 2020, Holde Agri Invest has invested RON 155 mln (EUR 31 mln) in the development of its operations. The investments targeted expanding the operated land areas and modernizing the existing farms.

In the first quarter of this year, the company acquired a new farm in Dâmbovița County, with a total area of approximately 980 hectares of land.

Currently, Holde operates a total land area of approximately 13,200 hectares divided into four core farms – Rosiori, roughly 3,830 ha, Frumusani, about 3,720 ha, Videle, approximately 2,300 ha, and Contesti, about 3,350 ha.

The group has a market capitalization of RON 123 mln (EUR 25 mln).

(Photo source: the company)