Romania's state postal services operator Posta Romana (Romanian Post) "is preparing to borrow" some EUR 40 million for 10 to 15 years, according to Profit.ro. No specific lender or potential lender is indicated.

"We are considering both the option of financing through a local bank, selected following a tender, and a getting a loan from the European Bank for Reconstruction and Development (EBRD)," the company's CEO Horia Grigorescu said in February.

The company will use the money to finance projects outlined in its investment strategy for the period 2019-2024.

Last year, Posta Romana was speaking of EUR 30 mln financing needed for the investment program. The investment plan aims to quadruple the company's market share on the market for Express deliveries to 15%.

The company reported RON 42 mln (EUR 9 mln) gross profit and RON 1.3 billion (EUR 280 mln) revenues for 2019.

editor@romania-insider.com

(Photo source: Posta-romana.ro)