MedLife, the leader of the private medical services market in Romania, has expanded its syndicated credit facility by another EUR 20 million to approximately EUR 110 million.
The group will use the extra funds for the development of several projects in the context of COVID-19. The projects are in the area of prevention, research, and refurbishment.
MedLife also plans to continue its program of acquisitions, both nationally and internationally. Including another EUR 9 mln loans contracted in the third quarter last year, the company says that it has at its disposal a total of EUR 29 mln for development, innovation, and acquisitions.
The syndicate of banks that signed the new syndicated loan is made of Banca Comerciala Romana, as coordinator, mandated lead arranger, documentation agent, facility & security agent and lender, Raiffeisen Bank, BRD Groupe Societe Generale and Banca Transilvania, as lead arrangers and lenders.
As of March 31, 2020, the group's total assets amounted to RON 1.06 bln (EUR 219 mln, +4.1 from end-2019), while total debt amounted to RON 849.2 mln (+4.5%). The group's market capitalization is currently RON 722 mln (EUR 149 mln).
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